State Street Launches Stablecoin Reserve Fund as Issuance Could Reach $4 Trillion by 2030
Updated
Updated · CoinDesk · Jun 16
State Street Launches Stablecoin Reserve Fund as Issuance Could Reach $4 Trillion by 2030
3 articles · Updated · CoinDesk · Jun 16
Summary
State Street on Tuesday introduced a government money market fund built for stablecoin issuers, targeting reserves that back digital dollars under the GENIUS Act framework.
The new fund aims to capture a fast-growing fee pool as stablecoin issuers park backing assets in Treasury bills, cash and money market funds.
Anchorage Digital and State Street Bank and Trust are the fund’s initial investors, while BlackRock, Franklin Templeton, Fidelity and JPMorgan are also expanding reserve-management and tokenized-cash offerings.
Circle’s USDC alone has about $75 billion in backing assets managed largely through BlackRock, and Tether and Circle together already hold tens of billions in Treasury-related assets.
State Street said global stablecoin issuance could grow to $1.9 trillion-$4 trillion by 2030, reinforcing its broader push into tokenized liquidity, onchain cash management and digital-asset settlement.
With reserve profits squeezed by new US law, how will stablecoin giants now compete?
Will the US GENIUS Act cement the dollar's dominance in the digital currency era?
As Wall Street takes over stablecoin reserves, is crypto being captured or legitimized?
State Street’s Landmark Stablecoin Reserve Fund and the GENIUS Act: The New Era of Institutional-Grade Digital Asset Management
Overview
State Street’s launch of the Stablecoin Reserves Money Market Fund on June 16, 2026, marks a major step in institutional adoption of digital assets. The fund is designed to offer stablecoin issuers strong, institutional-grade reserve management, focusing on stability, liquidity, and regulatory compliance. This move not only advances State Street’s strategy but also intensifies competition with other major asset managers. By addressing the critical needs of stablecoin issuers and building on previous innovations like the Galaxy Onchain Liquidity Sweep Fund, State Street is helping to shape a more secure and compliant environment for digital assets.