The team at a publicly traded bank's $5-trillion-AUM* asset management arm is rolling out another active ETF, this time as a cash management option.

Last Thursday (February 12), Anna Paglia, chief business officer of State Street Corporation's State Street Investment Management (SSIM, fka SSGA) [profile], unveiled the launch of the State Street Prime Money Market ETF (MMK on the NYSE). Boston-based SSGA Funds Management, Inc. (SSGA FM) serves as investment advisor and administrator to the new fund.

MMK's inception date was last Tuesday (February 10), and the new ETF comes with an expense ratio of 18 basis points. The new fund now has about $25.01 million in AUM**.

Paglia's press release and MMK's prospectus and statement of additional information (SAI) do not reveal who serves the portfolio manager (or managers) of MMK. However, the SSIM team confirms that MMK is powered by State Street's cash management team, which now has about $599.55 billion in AUM*.

Paglia puts the launch of MMK in the context of SSIM's longtime work in the sintitutional cash solution space.

"With the launch of MMK, that same expertise becomes accessible to all investors looking for ways to manage their cash with an emphasis on income, liquidity and flexibility," Paglia states.

MMK is an actively managed series of State Street Institutional Investment Trust. The new ETF's other service providers include:

Ernst & Young LLP as independent accounting firm;

Ropes & Gray LLP as counsel;

State Street as custodian, subadministrator, and transfer agent; and

State Street Global Advisors Funds Distributors, LLC (SSGA FD) as distributor.

*As of December 31, 2025.

**As of February 13, 2026 (last Friday). 

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