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Key Takeaways
- Morgan Stanley launched a money market fund built specifically to hold stablecoin reserves.
- The fund invests exclusively in short-term U.S. Treasuries (93 days or less) and overnight repos.
- The stablecoin market processed $10.9 trillion in transactions in 2025; Morgan Stanley is positioning to manage a slice of that collateral.
- Competitors including BlackRock and WisdomTree are adjusting their own funds to meet the same regulatory standards.
On April 16, 2026, Morgan Stanley Investment Management officially launched the MSILF Stablecoin Reserves Portfolio, ticker MSNXX – a government money market fund housed within its Institutional Liquidity Funds trust and built to hold the collateral that backs payment stablecoins. The fund opened with roughly $1 million in assets, a deliberately modest start for what the firm clearly views as a much larger long-term play.
The timing ...
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