Crane Data published its latest Weekly Money Fund Portfolio Holdings statistics Tuesday, which track a shifting subset of our monthly Portfolio Holdings collection. The most recent cut (with data as of March 21) includes Holdings information from 67 money funds (up 10 from a week ago), or $3.964 trillion (up from $3.551 trillion) of the $7.355 trillion in total money fund assets (or 53.9%) tracked by Crane Data. (Note: Our Weekly MFPH are e-mail only and aren't available on the website. See our latest Monthly Money Fund Portfolio Holdings here and our March 12 News, "March Money Fund Portfolio Holdings: Repo Surges, Treasuries Plunge.") (Please join us for this week's Bond Fund Symposium, which is March 27-28 in Newport Beach, Calif. We're still taking registrations!)
Our latest Weekly MFPH Composition summary shows Government assets dominating the holdings list with Treasuries totaling $1.833 trillion (up from $1.706 trillion a week ago), or 46.2%; Repurchase Agreements (Repo) totaling $1.372 trillion (up from $1.214 trillion a week ago), or 34.6%, and Government Agency securities totaling $326.0 billion (up from $287.7 billion), or 8.2%. Commercial Paper (CP) totaled $174.1 billion (up from a week ago at $139.2 billion), or 4.4%. Certificates of Deposit (CDs) totaled $101.4 billion (up from $82.1 billion a week ago), or 2.6%. The Other category accounted for $105.9 billion or 2.7%, while VRDNs accounted for $51.4 billion, or 1.3%.
The Ten Largest Issuers in our Weekly Holdings product include: the US Treasury with $1.833 trillion (46.2% of total holdings), Fixed Income Clearing Corp with $417.5B (10.5%), the Federal Home Loan Bank with $218.1 billion (5.5%), JP Morgan with $143.3B (3.6%), Citi with $97.2B (2.5%), BNP Paribas with $85.2B (2.1%), RBC with $79.1B (2.0%), Federal Farm Credit Bank with $75.6B (1.9%), Wells Fargo with $61.2B (1.5%) and Bank of America with $51.1B (1.3%).
The Ten Largest Funds tracked in our latest Weekly include: JPMorgan US Govt MM ($302.2B), Goldman Sachs FS Govt ($267.3B), JPMorgan 100% US Treas MMkt ($256.9B), Fidelity Inv MM: Govt Port ($232.4B), Morgan Stanley Inst Liq Govt ($180.3B), Federated Hermes Govt ObI ($169.8B), BlackRock Lq FedFund ($166.1B), State Street Inst US Govt ($164.2B), BlackRock Lq Treas Tr ($153.5B) and Fidelity Inv MM: MM Port ($152.3B). (Let us know if you'd like to see our latest domestic U.S. and/or "offshore" Weekly Portfolio Holdings collection and summary.)
In other news, CoinDesk writes that, "Fidelity Files for Onchain U.S. Treasury Fund, Joining the Asset Tokenization Race." The piece states, "Asset manager Fidelity Investments has filed paperwork to register a blockchain-based, tokenized version of its U.S. dollar money market fund, aiming to join the tokenized asset race. According to a ... filing to the U.S. Securities and Exchange Commission (SEC), the company seeks to register an 'OnChain' share class of its Fidelity Treasury Digital Fund (FYHXX) and use blockchains as transfer agent. FYHXX holds cash and U.S. Treasury securities and was launched late last year."
The piece explains, "The Onchain class of the fund currently uses the Ethereum (ETH) network, and the firm may expand to other blockchains in the future, the filing said. The registration is subject to regulatory approval, with the product expected to become effective on May 30. The filing happened as global banks and asset managers increasingly put traditional financial instruments such as government bonds, credit, and funds on blockchain rails, a process often referred to as tokenization of real-world assets (RWAs). They do so to pursue operational and efficiency gains and faster, around-the-clock settlements."
CoinDesk adds, "Fidelity, with $5.8 trillion in assets under management, is the latest traditional financial heavyweight seeking to enter the fast-growing tokenized U.S. Treasuries space. Blackrock (BLK), in partnership with digital asset firm Securitize, launched a similar tokenized T-bill fund last March called BUIDL and has become the market leader with nearly $1.5 billion of assets, rwa.xyz data shows. Franklin Templeton's fund, which was the first on-chain money market product, gathered $689 million in assets since its 2021 debut. The entire tokenized U.S. Treasury market is currently worth $4.77 billion, growing almost 500% over the past year, per rwa.xyz."
In related news, Coindesk also says, "BlackRock, Securitize Expand $1.7B Tokenized Money Market Fund BUIDL to Solana." It tells us, "BlackRock's tokenized money market fund, BUIDL, has become available on Solana, Securitize announced, marking another step in the asset manager's push into blockchain-based finance. The expansion makes BUIDL available on seven blockchains, including Ethereum, Polygon, Aptos, Arbitrum and Optimism. Only 62 wallets currently hold BUIDL on-chain, however, according to rwa.zyz data."
They write, "The fund, officially the BlackRock USD Institutional Digital Liquidity Fund, combines a short-term yield-bearing portfolio of cash and U.S. Treasuries with the settlement and transfer capabilities of blockchain. Since its introduction on Ethereum in 2023, the fund has drawn in $1.7 billion and is on track to cross $2 billion by early April, according to Securitize."
They quote Carlos Domingo, co-founder and CEO of Securitize, "In the year since BUIDL's launch, we've experienced significant growth in demand for tokenized real-world assets, reinforcing the value of bringing institutional-grade products on-chain. As the market for RWAs and tokenized treasuries gains momentum, expanding BUIDL to Solana -- a blockchain known for its speed, scalability, and cost efficiency -- is a natural next step."
