Overview

We partnered with Atomic Invest to launch Treasury accounts to help businesses put their idle cash to work safely and automatically. At the core of treasury are money market funds. This guide explains what money market funds are, why they're used by finance teams around the world, and how your money can grow with a Treasury account.

What's a money market fund?

A money market fund (MMF) is a type of mutual fund that invests in low-risk, high quality short-term debt securities and cash equivalents — usually things like U.S. Treasury bills and other government-backed debt. Think of it as a place to park your cash and earn yield without locking it up. MMFs are generally:

Highly liquid (you can usually pull funds out within days)
Very low risk
Used by companies, institutions, and governments to manage cash

What's inside the Treasury account money market fund?

Slash, through our partnership with Atomic Invest, gives you access to an investment advisory account offering two institutional-grade funds:

1. BlackRock Liquidity T Fund (TSTXX)

A U.S. Treasury securities fund made up of short-term government debt.

Significant holdings in U.S. government-backed securities
Actively managed by BlackRock Advisors, LLC
Focused on capital preservation and liquidity

2. Morgan Stanley Institutional Ultra-Short Income Portfolio (MULSX)

An ultra-short duration bond fund that invests primarily in high-quality, investment-grade debt securities.

Slightly broader holdings than TSTXX, including corporate and asset-backed securities
Designed for slightly higher yield potential while still maintaining a conservative risk profile
Managed by Morgan Stanley Investment Management

Together, these options give you flexibility to choose between pure Treasury exposure (TSTXX) or a diversified ultra-short income strategy (MULSX), depending on your business's cash management goals.

Understanding How the Yield Works

Money market funds report on a Net 7-Day Yield, which represents the average income return over the past 7 days, annualized (as if that same rate continued for a full year) and net of fees.

Here's an example to better explain how this works. Suppose you deposit $100,000 in your Treasury account, and the net 7-day yield is 4.0%. That 4.0% is an annualized yield, not a daily rate.

To understand what that means daily:

Daily yield ≈ (1 + 0.04)^(1/365) - 1 ≈ 0.01096% per day

On $100,000, that's about $10.96 per day, assuming the yield stays constant. Over a full year, that compounds to about $4,000 in earnings before taxes.

Yields adjust automatically based on prevailing short-term interest rates, so your return changes as the market changes. You can always see your current yield reflected in your Slash dashboard.

How does my money grow?

The BlackRock Liquidity T Fund generates returns through 7-day SEC yield, which is the average income return over the past 7 days, net of fees, assuming the rate stays the same for one year. Yields generally adjust automatically based on interest rates. You'll see this yield reflected right inside your Slash dashboard.

Insurance and Safety

Securities in your account are protected by the SIPC (up to $500,000, including $250,000 for claims for cash). For details, please see www.sipc.org. Money market funds aim to maintain a stable value of $1.00 per share and are frequently used by corporate treasury teams to manage short-term cash.

Money market funds are a time-tested way to grow idle cash without taking on unnecessary risk. With the Treasury account, you get seamless access to a high-quality money market fund that seeks current income while providing liquidity and stability of principal — backed by U.S. government securities, managed by BlackRock, and fully integrated into your Slash dashboard. It's generally simple, safe, and built for modern business.

Although the money market 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 a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Past performance does not guarantee future results.

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Slash has engaged Atomic Invest LLC (“Atomic”), an SEC-registered investment adviser, to bring you the opportunity to open an investment advisory account with Atomic. Companies which are engaged by Atomic receive compensation of 0% to 0.85% of assets under management annualized, payable monthly, for each referred client who opens an Atomic account and may receive a percentage of margin and free cash interest earned by clients, which creates a conflict of interest.

Brokerage services for Atomic are provided by Atomic Brokerage LLC , a registered broker-dealer and member of FINRA and SIPC, and an affiliate of Atomic, which creates a conflict of interest. For more details about Atomic, please see the Form CRS, Form ADV Part 2A, and Privacy Policy. For more details about Atomic Brokerage, please see the Form CRS and General Disclosures. You can check the background of Atomic Brokerage on FINRA’s BrokerCheck.

Neither Atomic Invest nor Atomic Brokerage, nor any of their affiliates, is a bank. Investments in securities: Not FDIC Insured, Not Bank Guaranteed, May Lose Value. Investing involves risk, including the possible loss of principal. Before investing, consider your investment objectives and fees and expenses charged. Advisory services through Atomic are not to be construed as tax advice or financial planning and do not take into consideration investments that clients may hold outside of Atomic.

You should consider the investment objectives, risks, charges, and expenses of a money market fund carefully before investing. This and other information is found in the fund’s prospectus. Please read the prospectus before investing. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market fund. Yields fluctuate and past performance is no guarantee of future results.

Understanding Money Market Funds: TSTXX and MULSX