📈 U.S. Money Market Fund Assets Hit $7.4 Trillion as Top Managers Expand Market Share

U.S. Money Market Fund (MMF) assets surged 42%, rising from $5.2 trillion in December 2022 to $7.4 trillion in February 2025. From 2022 to February 2025, Fidelity (+$557 billion, +57%), J.P. Morgan (+$358 billion, +84%), and Schwab (+$342 billion, +123%), led the expansion, collectively driving 58% of total asset growth. Asset concentration among the top seven managers increased significantly, with their combined market share rising from a 57% average (2011–2015) to 70% by February 2025.