State Street and Galaxy Asset Management are taking tokenized finance to a new level with the announcement of the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), set to launch on Solana in early 2026. The initiative represents a major leap for institutional blockchain adoption, marking the first time a global systemically important bank issues a product directly on Solana. Backed by Ondo Finance’s $200 million commitment, SWEEP aims to deliver an institutional-grade, fully onchain cash-management solution powered by PYUSD.

SWEEP Becomes the First Solana-Based Offering From a Global Bank

SWEEP will issue its initial tokens on Solana, chosen for its fast settlement times, low fees, and strong ecosystem for institutional-grade tokenization. The companies noted that this marks the first Solana-issued product from a top-tier global bank — a milestone that underscores how quickly the blockchain is becoming a preferred platform for real-world assets (RWAs).

While Solana will serve as the launch network, State Street and Galaxy confirmed that future expansions will support Stellar and Ethereum, with Chainlink infrastructure enabling secure cross-chain data and asset transfers.

24/7 Investor Flows Powered by PYUSD

Unlike traditional financial products limited by banking hours, SWEEP will operate around the clock, offering continuous subscription and redemption flows using PayPal’s PYUSD. This design provides institutions with a cash-like onchain product that preserves the liquidity and accessibility of traditional sweep accounts, but with blockchain-native transparency and automation.

Only Qualified Purchasers who meet regulatory standards will be eligible to invest in SWEEP.
State Street Bank and Trust Company will serve as the custodian for the fund’s underlying treasury assets, preserving the compliance and security institutions expect.

A New Era of Onchain Cash Management for Institutions

SWEEP is tailored specifically for institutions seeking to manage liquidity onchain without sacrificing the stability of traditional cash instruments. Kim Hochfeld, State Street’s global head of cash and digital assets, said the collaboration signals a major shift in how banks and crypto-native firms work together, allowing them to jointly push forward the evolution of onchain financial infrastructure.

Galaxy’s global head of asset management, Steve Kurz, emphasized that the product is designed to give digital-first investors a new operational liquidity tool, supported by Galaxy’s digital infrastructure for issuance and lifecycle management.

Ondo Strengthens Tokenization Momentum With $200M Investment

Ondo Finance President Ian De Bode highlighted that the firm’s $200 million seed commitment reinforces the accelerating convergence between traditional finance and blockchain-based markets. Tokenized funds like SWEEP, he noted, offer more efficient operating models and unlock new liquidity pathways for institutions.

State Street, Galaxy, and Ondo already share a history of collaboration, including partnerships around digital asset ETFs launched in 2024. SWEEP continues that trajectory while signaling growing confidence in tokenization as a core pillar of institutional finance.

A Transformative Step for Institutional Onchain Products

With SWEEP, State Street and Galaxy are positioning themselves at the forefront of tokenized asset innovation. By combining institutional-grade custody, blockchain-native liquidity, and a public network like Solana, the fund demonstrates how traditional finance and crypto infrastructure can now operate side by side — and in many cases, enhance one another.

As 2026 approaches, SWEEP could become one of the most influential institutional tokenization launches yet, paving the way for more real-world assets to move onchain.

The cryptocurrency market has long lacked a broad, trusted benchmark similar to the Dow Jones or S&P 500. But with a major regulatory green light and Bitwise’s latest move, the industry may finally be getting its first true multi-asset index alternative.

Bitwise has launched trading for its newly converted exchange-traded product, the Bitwise 10 Crypto Index ETF (BITW), giving investors easy access to the 10 largest digital assets in a single, regulated investment vehicle.

A Single ETF Covering the Market’s Top Crypto Assets

BITW brings together a diversified basket of leading cryptocurrencies, including:

• Bitcoin
• Ethereum
• XRP
• Solana
• Chainlink
• Litecoin
• Cardano
• Avalanche
• Sui
• Polkadot

Bitwise CEO and co-founder Hunter Horsley told CNBC that this ETF makes Bitwise the first major asset manager to include altcoins like Cardano, Avalanche, Sui, and Polkadot—all of which currently lack spot ETFs—in a fully regulated ETF product.

“This step significantly broadens the investor base that can access various crypto assets,” Horsley said. “It’s especially important for assets without a spot ETF.” He added that BITW opens new doors for smaller investors using IRAs or pension plans that only allow ETF-based exposure.

From Index Fund to ETF: A Structural Upgrade

BITW wasn’t created from scratch—it existed as an index fund with the same holdings before being converted to an ETF. The fund now enters the stock market with $1.5 billion in assets under management, instantly making it one of the largest diversified crypto products available.

The transition to an ETF format unlocks key advantages:

• Greater trading flexibility
• Potential tax benefits
• Lower operating costs
• Access through a wider range of brokerage accounts

This development comes on the heels of the SEC’s historic approval of U.S. spot Bitcoin ETFs in January 2024, which triggered a wave of ETF applications across the market—from altcoins like Sui and Aptos to meme-inspired tokens such as Dogecoin.

A Broader Crypto Market Indicator Begins to Form

As digital assets mature and develop unique market behaviors, products like BITW may serve the same role as equity indices: simplified diversification for investors who want broad exposure without picking individual tokens.

“Many investors following Bitcoin ETFs are looking for a more comprehensive digital asset solution,” Horsley said. “BITW arrives at the perfect time.”

Portfolio Weighting: Focus on Market Leaders

Despite covering 10 assets, BITW remains heavily weighted toward the market’s largest players.

• 90% of the fund is allocated to Bitcoin, Ethereum, Solana, and XRP—each of which already has its own ETF presence.
• The other 10% is distributed across smaller altcoins, ensuring limited exposure while still capturing growth potential.

BITW will rebalance monthly, offering a more dynamic update cycle compared to the typical quarterly or semiannual rebalancing seen in most traditional ETFs.

TT Chain (TT) is emerging as a blockchain project focused on real-world asset infrastructure, supply-chain traceability, and enterprise-grade transparency solutions. The network’s design centers on enabling organizations to verify product origins, monitor logistics, and ensure compliance using immutable on-chain data — a positioning that aligns with the growing institutional appetite for blockchain-based audit systems.

Enterprise-Focused Architecture

TT Chain promotes itself as a purpose-built ledger for supply-chain activity. Its framework allows manufacturers, logistics operators, and retailers to record each stage of a product’s lifecycle on-chain, from raw material sourcing to final delivery. This structure is intended to reduce fraud, strengthen authentication processes, and build trust between stakeholders across complex value chains.

Several early use cases highlight the platform’s potential applications, including agricultural tracing, sustainable product verification, and industrial logistics coordination. These examples illustrate TT Chain’s attempt to bridge blockchain technology with day-to-day operational requirements inside physical industries.

Token Model and Supply Structure

The TT token functions as the native asset for the network. Public supply data indicates a capped supply of 210 million TT, with a significantly smaller portion currently identified as the active supply. Circulating supply remains unreported, suggesting that liquidity is constrained or subject to controlled release schedules.

Such supply conditions may influence market behavior, particularly during early ecosystem development, when token distribution and unlock pacing play a large role in user participation and exchange liquidity.

Market Positioning and Recent Performance

TT trades in a niche segment of the market, with price activity showing low-volume movements reflective of early-stage liquidity. Despite modest trading activity, the project continues to gain visibility due to its distinct enterprise-first focus — a narrative increasingly resonant in sectors exploring real-world asset tokenization.

RWA Momentum and Competitive Landscape

The broader blockchain industry is seeing accelerated interest in real-world asset systems, especially in logistics, sustainability, and compliance-oriented workflows. TT Chain aims to position itself within this rising category by offering a structured environment for data integrity and provenance tracking.

Its success will depend on measurable enterprise adoption, clarity around tokenomics, and the network’s ability to scale with business-grade performance needs.

Outlook

With a clearly defined target audience and a roadmap centered on real-world integration, TT Chain is working to differentiate itself from generalized L1 ecosystems. Whether it secures meaningful traction will be determined by its technological delivery, enterprise partnerships, and transparency around token circulation.