Galaxy Digital plans to launch tokenized money market fund on three blockchains - report

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Galaxy Digital (NASDAQ:GLXY [https://seekingalpha.com/symbol/GLXY]) (OTCPK:BRPHF [https://seekingalpha.com/symbol/BRPHF]) is set to roll out a tokenized money market fund in the coming months, according to a media report published Tuesday.

The new fund will eventually expand to Ethereum (ETH-USD [https://seekingalpha.com/symbol/ETH-USD]), Solana (SOL-USD [https://seekingalpha.com/symbol/SOL-USD]) and Stellar (XLM-USD [https://seekingalpha.com/symbol/XLM-USD]) blockchains, but won't be live across all three networks at launch, CoinDesk reported, citing two people familiar.

That would put Galaxy (NASDAQ:GLXY [https://seekingalpha.com/symbol/GLXY]) in direct competition with tokenized fund offerings led by traditional asset managers, including BlackRock's (BLK [https://seekingalpha.com/symbol/BLK]) $2.2B BUIDL fund and Franklin Templeton's (BEN [https://seekingalpha.com/symbol/BEN]) BENJI token.

“The overarching ambition is to use the power of tokenization to offer instant liquidity, and there’s a lot of innovation around that to come,” one of the people told [https://www.coindesk.com/business/2025/09/16/galaxy-digital-said-to-plan-its-own-tokenized-money-market-fund] CoinDesk. “Galaxy has had the benefit of seeing BUIDL and some of the other ones out there in the market, and seeing who's engaging with these funds, how they're engaging with them, and how that could be better.”

A representative for Galaxy Digital declined to comment on the fund.

The news comes after the Mike Novogratz-led company said early in the month it was allowing its stockholders [https://seekingalpha.com/news/4491740-galaxy-digital-enables-tokenization-of-its-stock-on-solana-blockchain] to tokenize their Class A common shares on the Solana (SOL-USD [https://seekingalpha.com/symbol/SOL-USD]) network via blockchain firm Superstate's Opening Bell platform.

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