The Investment Company Institute's latest weekly "Money Market Fund Assets" report shows money fund assets decreasing $52.0 billion to $7.921 trillion. Assets fell $6.1 billion the previous week and increased $44.8 billion to a record high $7.979 trillion the week before this. MMF assets are up by $638 billion, or 8.8%, over the past 52 weeks (through 9/16/26), with Institutional MMFs up $486 billion, or 11.2% and Retail MMFs up $152 billion, or 5.1%. Year-to-date in 2026, MMF assets are up by $188 billion, or 2.4%, with Institutional MMFs up $153 billion, or 3.3% and Retail MMFs up $35 billion, or 1.1%.
ICI's weekly release says, "Total money market fund assets decreased by $51.97 billion to $7.92 trillion for the week ended Wednesday, September 16, the Investment Company Institute reported.... Among taxable money market funds, government funds decreased by $47.88 billion and prime funds decreased by $5.17 billion. Tax-exempt money market funds increased by $1.07 billion. ICI's stats show Institutional MMFs decreasing $49.9 billion and Retail MMFs decreasing $2.1 billion in the latest week. Total Government MMF assets, including Treasury funds, were $6.531 trillion (82.4% of all money funds), while Total Prime MMFs were $1.240 trillion (15.7%). Tax Exempt MMFs totaled $150.4 billion (1.9%).
It explains, "Assets of retail money market funds decreased by $2.09 billion to $3.11 trillion. Among retail funds, government money market fund assets increased by $784 million to $1.98 trillion, prime money market fund assets decreased by $3.15 billion to $991.39 billion, and tax-exempt fund assets increased by $277 million to $137.22 billion." Retail assets account for 39.3% of the total, and Government Retail assets make up 63.7% of all Retail MMFs.
They add, "Assets of institutional money market funds decreased by $49.88 billion to $4.81 trillion. Among institutional funds, government money market fund assets decreased by $48.66 billion to $4.55 trillion, prime money market fund assets decreased by $2.02 billion to $249.08 billion, and tax-exempt fund assets increased by $794 million to $13.20 billion." Institutional assets accounted for 60.7% of all MMF assets, with Government Institutional assets making up 94.5% of all institutional MMF totals.
According to Crane Data's separate Money Fund Intelligence Daily series, money fund assets have decreased by $18.6 billion to $8.323 trillion month-to-date in September (as of 9/16), assets reached an all-time high of $8.404 trillion on July 6. Assets increased $52.8 billion in August, decreased $61.4 billion in July, increased $58.6 billion in June, $208.6 billion in May, decreased by $108.8 billion in April, $49.3 billion in March, increased $99.5 billion in February, $32.9 billion in January, $126.3 billion in December, $132.8 billion in November, $142.1 billion in October and $105.2 billion last September. Note that `ICI's asset totals don't include a number of funds tracked by the SEC and Crane Data, so they're almost $400 billion lower than Crane's asset series.
In related news, the ICI also published, "Retirement Assets Total $51.2 Trillion in Second Quarter 2026," which includes data tables showing that money market funds held in retirement accounts rose to $1.030 trillion (up from $1.018 trillion) in the latest quarter, accounting for 13% of the total $7.900 trillion in money funds. MMFs represent just 6.5% of the total $15.9 trillion of mutual funds in retirement accounts.
This release says, "Total US retirement assets were $51.2 trillion as of June 30, 2026, up 7.9% from March. Retirement assets accounted for 33% of all household financial assets in the United States at the end of June 2026. Assets in individual retirement accounts (IRAs) totaled $19.9 trillion at the end of the second quarter of 2026, an increase of 9.2% from the end of the first quarter of 2026."
It continues, "Defined contribution (DC) plan assets were $15.0 trillion at the end of the second quarter, up 8.7% from March 31, 2026. Government defined benefit (DB) plans—including federal, state, and local government plans—held $10.4 trillion in assets as of the end of June 2026, a 5.1% increase from the end of March 2026. Private-sector DB plans held $3.2 trillion in assets at the end of the second quarter of 2026, and annuity reserves outside of retirement accounts accounted for another $2.7 trillion."
The ICI tables show money funds accounting for $784 billion, or 10%, of the $8.044 trillion in IRA mutual fund assets and $245 billion, or 3%, of the $7.859 trillion in defined contribution plan holdings. Money funds in 401k plans totaled $163 billion, or 3% of the $6.229 trillion of mutual funds in 401k's.
Finally, in other news, a press release titled, "DTCC's Fund/SERV Adds Ondo Finance as Its First Tokenization Member, Bringing Tokenized Funds Into the Mainstream," tell us, "Ondo Finance, a leading tokenization company bringing institutional-quality financial products to the digital economy and The Depository Trust & Clearing Corporation (DTCC), the premier market infrastructure for the global financial services industry, ... announced that Ondo Finance's subsidiary Oasis Pro Markets, a U.S. registered broker-dealer and distributor of tokenized investment products, has joined DTCC's Fund/SERV platform as a member, becoming the first tokenization platform to participate in the industry's leading fund transaction processing and distribution network that currently serves over 85% of U.S. mutual fund activity."
It adds, "This paves the way for Ondo tokenized funds to be distributed across the traditional fund ecosystem, furthering DTCC's strategy to support tokenized assets and facilitate interoperability across the traditional and digital finance ecosystems."
