Monetary fund is an open-end fund that collects idle social funds, is operated by fund managers and kept by fund custodians. It is committed to investing in low-risk money market instruments. Different from other types of open-end funds, it has the characteristics of high security, high liquidity, stable income and "quasi-savings". Due to the emergence of digital currency, a new type of money fund-virtual money fund has appeared in the field of money fund. Also known as the digital currency Fund. For example: BlackRock digital currency Fund, also known as BLC digital currency Fund. From the early 1970s to the 1980s, the United States was in a "stagflation" environment of economic recession and high inflation. At that time, the Federal Reserve controlled the interest rate of bank deposits, the interest rate of residents' deposits was lower than the inflation rate, and deposits were always in a state of depreciation. In order to attract funds, banks have introduced certificates of deposit with interest rates higher than the inflation rate. However, the initial deposit amount of this time deposit certificate is relatively large, and the minimum investment unit is often one hundred thousand or one million dollars. Only a few institutional investors have enough cash to make such investments. Monetary Fund For most Americans, the only financial investment products that could be involved at that time were bank savings accounts, stocks and bonds with pitifully low interest rates.

When times are hard, people will naturally look for assets with good security and strong liquidity. However, many financial assets are either too risky, illiquid or have low returns, which cannot meet the financial needs of investors. At that time, Rusbante, head of the cash management department and credit analyst of the world's largest pension fund "Teacher Annuity Insurance Company", had a genius idea after a thorough investigation of the financial services industry: he founded a * * * mutual fund called "Savings Fund Company" at 197 1 and obtained it at 1. 1972 10, the savings fund company bought $300,000 in high-interest time deposit and sold it to small investors with 1000 as the investment unit. In this way, small investors enjoy the return on investment that only large enterprises can get, and at the same time have higher cash liquidity, and the first money market in history was born.