Best money-market funds in 2026

Money-Market Funds evaluated across token as the share of record, regulator and registration number, published fee against fund yield, and portfolio and liquidity rules.

#1 of 8 · published ranking

Spiko US T-Bills Money Market Fund (USTBL)

81ChainChoice Score

Why it leads

4 points ahead of Fidelity Treasury Digital Fund — OnChain class (FYOXX / FDIT): +5.6 pts token share record

Cost

Not priced · No comparable price is published

Below the table

How this ranking works

Everything the table draws on continues here: how firm the #1 is, the per-criterion arithmetic behind each score, who pays ChainChoice, and the full guide to choosing.

Direct answer

What is the best money-market funds in 2026?

Spiko US T-Bills Money Market Fund (USTBL) ranks #1 overall for money-market funds on ChainChoice. A French-domiciled money market fund approved by the AMF, with a one-dollar minimum and an ISIN, distributed by Spiko and managed by Twenty First Capital. It holds that rank under an affiliate-blind methodology scored across 4 published, weighted criteria — the code that ranks providers physically cannot read affiliate payouts (CI-enforced), so a payout can't move a rank. The verdict re-computes on every fee change, incident, or regulatory action; full reasoning and the audit receipt are below.

Best picks

Best money-market funds in 2026

Weighted on whether the token is the share of record (30), the regulator and registration number (28), the published fee against the fund yield (22), and the portfolio and liquidity rules (20). The first thing to check is the category name itself: three of the eight are not registered money market funds under any money-market-fund regime. BUIDL's Form D answers is40Act "false" and claims the Section 3(c)(7) exclusion, Superstate's own asset page labels the Invesco fund "TOKENIZED PRIVATE FUND", and JTRSY holds a BVI professional-fund licence. Only Franklin, Fidelity, WisdomTree and Spiko are registered as money market funds.

Best overall

Spiko US T-Bills Money Market Fund (USTBL)

A French-domiciled money market fund approved by the AMF, with a one-dollar minimum and an ISIN, distributed by Spiko and managed by Twenty First Capital.

Data checked Sep 2026

A French-domiciled money market fund approved by the AMF, with a one-dollar minimum and an ISIN, distributed by Spiko and managed by Twenty First Capital. Strongest on regulator and registration number (10/10): The product page states that the fund is a money market fund approved by the French AMF, publishes ISIN FR001400ODM9 and links to the fund's entry in the AMF's GECO register. Weakest on token as the share of record (6/10): Spiko's documentation says its funds use blockchain networks for registry management while the funds keep admin rights over their shares; the USD product page itself mentions no blockchain, chain or token. Published price: "The only fee for using Spiko is a 0.25% annual management fee on your deposited funds, deducted daily on a prorated basis.

Best for: Regulator and registration number — 10/10

Why this score4 published criteria · leads 1 of 4

Published criterionWtScore, and the best hereGap/10Pts

Token as the share of record7.2−365.8

Regulator and registration number6.7·109.0

Published fee against fund yield5.3−185.6

Portfolio and liquidity rules4.8−185.1

Σ methodology points25.5/32

Each bar is the score on that criterion’s own 0–10 scale, never rescaled to the pool. The dark line is the best any product here reached on that axis. Wt is the most the criterion can add to the 86-point weighted total. Pts is weight × score × 32; the sum is the methodology score, and each weighted point behind the leader costs 2.6 on the displayed score. how these are weighted

Why it ranks first

Why Spiko US T-Bills Money Market Fund (USTBL) leads this category right now

Best for

Regulator and registration number — 10/10

Main tradeoff

Spiko is the distributor, not the manager — the page names "Asset manager Twenty First Capital" — so the investment decisions and the brand you are buying are made by different firms. The portfolio disclosure block on the same page is stamped "Last updated on Dec. 9, 2024", and the live yield and holdings render only from JavaScript, so none of the current figures are readable in the page source.

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"The only fee for using Spiko is a 0.25% annual management fee on your deposited funds, deducted daily on a prorated basis. The interest you see each day is always shown after this fee has been deducted." The same FAQ adds "You also have no transaction fees on your deposits and withdrawals. Finally, you also have no custody fees." and the characteristics table reads "Minimum initial deposit $1" — Spiko T-Bills USD product page, fetched 2026-09-27. The page's current net yield renders only from JavaScript and is not in the served HTML.

Recommendation summary

What should decide this category

Is the token the share of record, or a wrapper around a share held elsewhere?

Which regulator, under which regime, and what is the registration number?

What does the manager take, measured against the yield the fund actually pays?

Quick picks

Strong options in this category

Start with the lead choice first, then use the shortlist only if you still need a challenger or stronger fit for a specific setup.

Best overall

Spiko US T-Bills Money Market Fund (USTBL)

A French-domiciled money market fund approved by the AMF, with a one-dollar minimum and an ISIN, distributed by Spiko and managed by Twenty First Capital.

Best for: Regulator and registration number — 10/10

Token as the share of record · 30%

6/10

Regulator and registration number · 28%

10/10

Published fee against fund yield · 22%

8/10

Portfolio and liquidity rules · 20%

8/10

Quick pick

Fidelity Treasury Digital Fund — OnChain class (FYOXX / FDIT)

A Rule 2a-7 registered money market fund with a dedicated on-chain share class whose blockchain record is explicitly secondary to the transfer agent's book-entry register.

A Rule 2a-7 registered money market fund with a dedicated on-chain share class whose blockchain record is explicitly secondary to the transfer agent's book-entry register. Strongest on regulator and registration number (10/10): The OnChain class belongs to Fidelity Treasury Digital Fund, a series of Fidelity Hereford Street Trust, which EDGAR lists under Investment Company Act file number 811-07139; the trust files monthly money market fund reports (N-MFP3) under it. Weakest on token as the share of record (3/10): The prospectus states that the transfer agent keeps the official record of OnChain class ownership in book-entry form, and that the blockchain recording is secondary and reconciled against the official records at least daily. Published price: OnChain class fee table, label then cell: "Management fee" 0.25 %; "Distribution and/or Service (12b-1) fees" None; "Other expenses" 0.00 %; "Total annual operating expenses" 0.25 %; "Fee waiver and/or expense reimbursement" 0.05 % A; "Total annual operating…

Best for: Regulator and registration number — 10/10

Token as the share of record · 30%

3/10

Regulator and registration number · 28%

10/10

Published fee against fund yield · 22%

8/10

Portfolio and liquidity rules · 20%

9/10

Quick pick

Franklin OnChain U.S. Government Money Fund (FOBXX / BENJI)

A 1940 Act registered government money market fund whose transfer agent keeps the official share register on public blockchains.

A 1940 Act registered government money market fund whose transfer agent keeps the official share register on public blockchains. Strongest on regulator and registration number (10/10): The fund is a series of Franklin Templeton Trust, which EDGAR lists under Investment Company Act file number 811-23471 and Securities Act file number 333-233596; the trust files monthly money market fund reports (N-MFP3) under that registration. Weakest on token as the share of record (9/10): The prospectus states that the transfer agent maintains the official record of share ownership through a proprietary blockchain-integrated system that uses book-entry features and public blockchains; the transfer agent keeps unilateral control over the shares recorded on it. Published price: Fee table rows read from the filing, label then cell: "Management fees" 0.15%; "Distribution and service (12b-1) fees" None; "Other expenses" 0.07%; "Total annual Fund operating expenses" 0.22%; "Fee waiver and/or expense reimbursement 1" -0.02%; "Total…

Best for: Regulator and registration number — 10/10

Token as the share of record · 30%

9/10

Regulator and registration number · 28%

10/10

Published fee against fund yield · 22%

9/10

Portfolio and liquidity rules · 20%

9/10

Quick pick

Janus Henderson Anemoy Treasury Fund (JTRSY)

A BVI professional fund open only to non-US professional investors, whose token is prima facie evidence of ownership under BVI law.

A BVI professional fund open only to non-US professional investors, whose token is prima facie evidence of ownership under BVI law. Strongest on token as the share of record (8/10): Anemoy's fund page states that the token represents an ownership share in the fund and is prima facie evidence of ownership under BVI law, in the same way as a share certificate. Weakest on regulator and registration number (2/10): The fund page states that the fund is approved and regulated by the BVI Financial Services Commission but gives no licence or registration number; the term sheet calls it a BVI licensed professional fund for non-US professional investors. Published price: "15 basis points" then "annual management fee, including blockchain transaction and protocol fees, excluding third-party fees as fund administration, fund audit, asset custody, banking and brokerage fees but not limited to", footnoted "The annual management…

Best for: Token as the share of record — 8/10

Token as the share of record · 30%

8/10

Regulator and registration number · 28%

2/10

Published fee against fund yield · 22%

4/10

Portfolio and liquidity rules · 20%

4/10

Frequently asked

Questions people ask before choosing money-market funds

Are these actually money market funds?

Four of the eight are. The other three are funds of a different kind wearing the category name: BUIDL's Form D answers is40Act "false" and claims the Section 3(c)(7) exclusion, so it is a private fund for qualified purchasers rather than a registered money market fund; Superstate's own asset page labels the Invesco product "TOKENIZED PRIVATE FUND"; and Janus Henderson Anemoy's JTRSY holds a BVI professional-fund licence. Franklin, Fidelity, WisdomTree and Spiko are the registered ones. The distinction is not pedantic — a registered money market fund carries portfolio and liquidity rules that a private fund does not, which is why those rules carry 20% of the weight here.

Can I trust the AUM figure on the product page?

Check it against the chain, because at least one does not reconcile. Circle's USYC page publishes "Assets Under Management $312,976,695.16". On 2026-08-07 totalSupply() returned 2,573,937,729.192755 on BNB Chain and 77,034,100.301532 on Ethereum — confirmed identically on three independent RPCs — which at the fund's own oracle NAV of 1.133362906634636304 is $3,004,513,138 of tokens. That is 9.6 times the published AUM, and within 0.01% of the $3,004,191,871 RWA.xyz reports independently. No as-of date appears beside Circle's figure to explain the gap.

What does a cumulative sales figure tell me about size?

Nothing about size, and it is easy to read as if it did. BlackRock's Form D/A shows $5,135,523,412, but that is totalAmountSold — cumulative subscriptions since inception, not assets under management. BUIDL's actual size on 2026-08-07 was a Total Asset Value of $2,695,565,506 across 114 holders. The genuinely interesting number in those filings is different and smaller: investors of record fell from 42 in the July 2025 Form D/A to 28 in the July 2026 one, while cumulative sales rose 58%.

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How this ranking is built

Reviewed on token as the share of record, regulator and registration number, published fee against fund yield, and portfolio and liquidity rules.

Data checked Sep 2026 · Independent rankings · We show our work

Not financial advice · For informational purposes only · Always do your own research