SWEEP, issued by SSGA Funds Management, Inc. and tokenized by Galaxy, is a tokenized private liquidity fund interest that provides holders onchain exposure to a short-term U.S. dollar (USD) cash management portfolio seeking current income while preserving principal and liquidity [S1].

The fund invests in U.S. Treasury bills, notes and bonds, Treasury-backed repos, Treasury Inflation-Protected Securities and Treasury floating-rate notes, alongside USD deposits and stablecoins [S1]. The fund seeks a high level of current income consistent with preserving principal and liquidity, and the SWEEP token is non-rebasing by design, so value accrues through net asset value [S1]. Holders bear a total expense ratio of 0.50% per annum of average daily net assets [S1].

SSGA Funds Management, Inc. serves as investment manager [S1]. The fund is not a money market fund registered with the U.S. Securities and Exchange Commission (SEC), and is not subject to the rules and limitations applicable to such registered funds [S2]. Interests are offered as a private placement to accredited investors who qualify as Qualified Purchasers, meeting eligibility criteria set in the Private Placement Memorandum, with minimum investments of 5,000,000 USD for entities and 1,000,000 USD for individuals [S1][S2]. State Street Global Advisors Funds Distributors, LLC acts as distributor and Galaxy Digital Partners LLC as placement agent, both members of FINRA and SIPC [S2].

SWEEP launches on the Solana blockchain, with multi-chain expansion anticipated [S1]. Subscriptions accept PayPal USD (PYUSD) and USD Coin (USDC) stablecoins at any time, or USD via Fedwire on business days [S1]. Redemptions settle daily on business days, with USD processed by 2:00 PM ET and PYUSD available continuously, subject to portfolio availability [S1].

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Tokenized funds

Galaxy operates as a multi-faceted financial services platform with over 1,500 institutional trading counterparties, maintaining $17B in assets on platform and $1.8B average loan book size, while simultaneously developing 1.6+ GW of approved power capacity through their Helios data center campus. The company generates revenue through trading spreads, lending services, asset management fees, data center operations, and investment banking advisory services across the digital asset ecosystem.

Galaxy provides a full suite of digital asset services including institutional trading, lending, derivatives, asset management, custody solutions through GK8, and venture capital investments in blockchain projects. The company operates cutting-edge AI and high-performance computing data centers while offering tokenization services and staking solutions to maximize digital asset yields for institutional and individual investors.

Galaxy Digital is a leading institutional digital assets and data center infrastructure company that serves as a comprehensive platform for cryptocurrency trading, investment management, and AI-powered computing facilities.

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Real-world asset (RWA) issuers

Galaxy Digital

State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP) is a tokenized fund share issued by Galaxy Digital and managed by SSGA Funds Management, Inc.

The fund is open-ended and invests in U.S. government debt and money market instruments.

Qualified purchasers can subscribe and redeem in PYUSD, with a PYUSD 5,000,000 minimum.

The issuer is offered under an SEC Regulation D exemption.

SWEEP has been issued on Solana as a SPL Token-2022 token since April 2026.

State Street Galaxy Onchain Liquidity Sweep FundSWEEP

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