State Street and Galaxy Digital Launch On-Chain Liquidity Fund for Institutions

State Street and Galaxy launched SWEEP for qualified investors as an onchain liquidity fund using stablecoins and yield-bearing tokenized assets, debuting on Solana with planned expansion to Stellar and Ethereum and infrastructure support from Chainlink.

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13d ago

Fact Check

All three sources - CoinDesk, The Block, and crypto.news - independently and consistently confirm every element of the claim: (1) State Street and Galaxy Digital are the co-launchers; (2) the fund is named SWEEP (State Street Galaxy Onchain Liquidity Sweep Fund); (3) it is a tokenized private liquidity fund targeting institutional investors; (4) it offers cash management, yield products, and 24/7 liquidity; (5) it launched on Solana; (6) expansion to Ethereum and Stellar is planned. The Block further references an official Business Wire press release dated May 5, 2026, providing a direct link to the primary corporate announcement. There are no conflicting claims across any source.

Summary

State Street and Galaxy Digital launched the State Street Galaxy Onchain Liquidity Sweep Fund, or SWEEP, an onchain liquidity fund for qualified institutional investors focused on 24/7 cash management using stablecoins and yield-bearing tokenized assets. The fund will debut on Solana and is planned to expand to Stellar and Ethereum. The new report adds that SWEEP integrates infrastructure including Chainlink, extending earlier descriptions of the product as a tokenized private liquidity fund designed to support subscriptions, redemptions, and continuous liquidity on blockchain rails.

Terms & Concepts

stablecoins: Cryptocurrencies designed to maintain a stable value, typically by being pegged to a fiat currency such as the U.S. dollar.
tokenized assets: Traditional or digital assets represented on a blockchain, allowing ownership and transfers to be managed onchain.
Chainlink: A blockchain infrastructure network commonly used to provide data connectivity and interoperability services for onchain applications and tokenized assets.