SWEEP Fund Bridges Wall Street and Crypto Liquidity

Crypto News DeFi

SWEEP Fund Blends Wall Street and Crypto With On-Chain Liquidity

Written by Aaron S.,

Editor-In-Chief

Last Updated: December 11, 2025

Key Takeaways

State Street, Galaxy, and Ondo Finance launch SWEEP, a PYUSD-based tokenized fund offering instant liquidity for qualified investors;
SWEEP will debut on Solana in 2026 and expand to Stellar and Ethereum with Chainlink for cross-chain interoperability;
The partnership bridges TradFi and crypto, using tokenization to give institutions fast, on-chain access to US Treasuries.

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SWEEP Fund Blends Wall Street and Crypto With On-Chain Liquidity

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State Street Investment Management, Galaxy Asset Management, and Ondo Finance have formed a collaboration for a tokenized on-chain liquidity fund named the State Street Galaxy Onchain Liquidity Sweep Fund, or SWEEP.

SWEEP uses PYUSD to enable nearly instant flows whenever the fund holds liquid assets. Only Qualified Purchasers meeting regulatory requirements can access the fund.

State Street Bank and Trust Company acts as custodian, Galaxy brings digital tokenization infrastructure, and Ondo provides anchor capital.

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Launch is set for Solana SOL $134.15 in early 2026, with expansion to Stellar XLM $0.2410 and Ethereum ETH $3,204.29 supported by Chainlink LINK $13.65 for cross-chain connections.

Solana's appeal for this fund lies in its established environment for assets and high-speed transfers. By starting on Solana, SWEEP addresses user demand for rapid and low-fee transactions.

Kim Hochfeld, global head of cash and digital assets at State Street, stated:

By partnering with Galaxy, we will push the envelope together and drive the evolution of the TradFi landscape on-chain.

Hochfeld noted that this joint effort demonstrates a developing connection between established finance and crypto.

Additionally, Ian De Bode, president of Ondo Finance, commented:

Tokenization is rapidly becoming the connective tissue between traditional finance and the on-chain economy.

He explained that Ondo's initial participation provides stability for SWEEP and also helps scale its fund, which gives institutions access to US Treasuries through instant minting and redemptions.

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