State Street and Galaxy launch institutional tokenized fund

U.S. asset manager State Street has launched an institutional tokenized cash management fund with Galaxy (GLXY), CoinDesk reported. Unlike traditional money market funds (MMFs), which can only be traded during market hours, this fund operates 24/7 using blockchain infrastructure. The fund will initially be issued on Solana (SOL) and is scheduled to expand to Ethereum (ETH) and Stellar (XLM) in the future.