Northern Trust Asset Management Launches Stablecoin Cash Reserves Portfolio

New NSCXX fund offers stablecoin issuers a regulated U.S. government money market vehicle without direct stablecoin exposure.

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09/08/2026 - 10:00 AM

Expanding Digital Assets Liquidity Solutions for Institutional Investors

CHICAGO--(BUSINESS WIRE)-- Northern Trust Asset Management, a leading global investment management firm with US$1.6 trillion in assets under management as of June 30, 2026, announced the launch of the Northern Institutional Funds Stablecoin Cash Reserves Portfolio (Ticker: NSCXX). The Stablecoin Cash Reserves Portfolio is a U.S. government money market fund designed to support stablecoin issuers’ cash reserve needs.

The fund is structured to hold the reserves for stablecoins, as permitted under the recent Guiding and Establishing National Innovation for U.S. Stablecoins ("GENIUS") Act. The fund is a 2a-7 Treasury and Treasury repurchase agreement money market fund, with remaining maturities of 93 days or less. The fund invests in U.S. Treasury securities and Treasury repurchase agreements and does not invest in, or own, stablecoins within the portfolio.

“The stablecoin market is rapidly evolving as issuers look for reserve solutions that seek to meet their capital preservation and liquidity needs, while aligning with new regulatory requirements,” said Paula Kar, Chief Product Officer, Northern Trust Asset Management. “This portfolio applies our institutional cash management experience to that challenge, giving issuers access to a dedicated reserve solution built around high-quality, short-term U.S. government assets. Together with our tokenized fund capabilities, this launch reinforces our focus on connecting trusted investment structures with the evolving digital financial ecosystem."

This Stablecoin Cash Reserves Portfolio launch follows Northern Trust Asset Management’s entry into the digital assets market earlier this year, after the launch of a tokenized share class of the NIF Treasury Instruments Portfolio. These developments represent Northern Trust Asset Management’s commitment to providing clients with digitally-powered solutions in a transforming marketplace.

Northern Trust Asset Management has US$395 billion in assets under management in liquidity strategies as of June 30, 2026.

About Northern Trust Asset Management

Northern Trust Asset Management is a global investment manager that helps investors navigate changing market environments in efforts to realize their long-term objectives. Entrusted with US$1.6 trillion in assets under management as of June 30, 2026, we understand that investing ultimately serves a greater purpose and believe investors should be compensated for the risks they take — in all market environments and any investment strategy. That’s why we combine robust capital markets research, expert portfolio construction and comprehensive risk management to craft innovative and efficient solutions that seek to deliver targeted investment outcomes. As engaged contributors to our communities, we consider it a great privilege to serve our investors and our communities with integrity, respect and transparency.

Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South Capital Advisors, LLC, Northern Trust Asset Management Australia Pty Ltd, and investment personnel of The Northern Trust Company, The Northern Trust Company (Singapore Branch), and The Northern Trust Company of Hong Kong Limited.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2026, Northern Trust had assets under custody/administration of US$20.0 trillion, and assets under management of US$2.0 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

The Stablecoin Cash Reserves Portfolio is designed for purchase by stablecoin issuers and institutional investors.

U.S. Government Guarantees apply only to the underlying securities of a Fund's portfolio and not the Fund's shares.

U.S. Government Securities Risk: The risk that the U.S. government will not provide financial support to its agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. Certain U.S. government securities purchased by the Fund are neither issued nor guaranteed by the U.S. Treasury and, therefore, may not be backed by the full faith and credit of the United States. The maximum potential liability of the issuers of some U.S. government securities may greatly exceed their current resources, including any legal right to support from the U.S. Treasury. It is possible that the issuers of such securities will not have the funds to meet their payment obligations in the future.

Stablecoin Reserve Risk is the risk that because shares of the Portfolio are expected to be held primarily by one or more stablecoin issuers as all or a portion of the reserve assets that back the payment stablecoins issued to their customers, the Portfolio may experience adverse effects to the extent such shareholders purchase or redeem large amounts of shares of the Portfolio. The assets of the Portfolio are expected to fluctuate depending on the creation (minting) of additional stablecoins or the redemption (burning) of outstanding stablecoins. Stablecoins may face periods of uncertainty that result in the potential for rapid or unexpected redemption requests by one or more stablecoin issuers. Such redemptions could adversely affect remaining Portfolio shareholders, the Portfolio’s liquidity and yield, and the Portfolio’s ability to maintain a stable NAV.

Please carefully read the prospectus and summary prospectus and consider the investment objectives, risks, charges and expenses of Northern Institutional Funds before investing. Call 800-637-1380 to obtain a prospectus and summary prospectus, which contain this and other information about the Funds.

The Portfolio is newly launched and has no operating history. You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

NTI, an indirect subsidiary of Northern Trust Corporation, serves as the investment adviser of the Portfolio.

Shares of the Trust are distributed by Northern Funds Distributors, LLC (“NFD”), a wholly-owned subsidiary of Foreside Financial Group, LLC (dba ACA Group). NFD is not affiliated with NTI or any other Northern Trust affiliate.

Not FDIC insured | May lose value | No bank guarantee

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