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The phrase "hold cash" is correct and usable in written English.
You can use it to refer to the act of keeping money in a safe place. For example: "He decided to hold cash in a secure account to ensure his savings were protected."
Exact(60)
They are more diversified in their holdings and more likely to hold cash than younger investors, according to an investor profile study conducted last year by Charles Schwab & Company.
He called them "an expensive way to hold cash" because when all such funds are taken in aggregate, their holdings should cancel one another out.
Funds tracking bond indices hold cash to meet redemptions.
Why not just hold cash, bonds or gold?
Hedge-fund managers needed to hold cash to meet redemptions.
As a consequence, private firms hold cash and issued equity for hedging the negative effect of credit contractions.
(Yet rock-bottom interest rates also make it less attractive to hold cash).
Unfortunately, that's not possible, because rather than lend at a loss people can just hold cash.
Banks are keen to hold cash when markets are closed or trading is thin.
They may or may not have the capability or desire to hold cash for a client.
Because if the interest rate fell below zero, people would just hold cash instead of bonds.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com