Invesco Files for Tokenized Fund Aimed at Stablecoin Reserve Market
Invesco has filed with the SEC to register a tokenized fund designed to invest in cash and short-term U.S. Treasuries for stablecoin reserves. The move places the asset manager deeper into a growing race among traditional finance firms to provide infrastructure for digital dollars.
What happened?
Invesco has filed with the SEC to register a tokenized fund designed to invest in cash and short-term U.S. Treasuries for stablecoin reserves. The move places the asset manager deeper into a growing race among traditional finance firms to provide infrastructure for digital dollars.
Why it matters
The filing also comes as competition grows among major financial firms seeking a role in stablecoin reserve management. CoinDesk reported that BlackRock, State Street and ProShares have also filed for funds aimed at serving as reserve vehicles, while Citigroup projects the stablecoin market could reach as much as $4 trillion by 2030, compared with roughly $300 billion today.
Invesco has filed with the U.S. Securities and Exchange Commission to register the Invesco Stablecoin Reserves Onchain Fund, a tokenized vehicle intended to invest in cash and short-term U.S. Treasury securities. CoinDesk reported that the filing was made Wednesday and that the proposed portfolio aligns with reserve requirements outlined in the GENIUS Act, the U.S. law governing payment stablecoins.
The development matters because stablecoin reserves are becoming a larger business opportunity for traditional asset managers. Stablecoins are typically designed to hold a fixed value, often linked to one U.S. dollar, and their issuers need reserve assets such as cash and short-term Treasuries to support that structure.
According to the filing described by CoinDesk, tokenization firm Superstate is named as sub-transfer agent for the fund. Superstate would maintain a blockchain-integrated shareholder registry that combines traditional fund records with on-chain tokens representing ownership. The fund is expected to operate on a public blockchain, though the filing did not identify which network.
Invesco, which CoinDesk said manages more than $2.5 trillion in assets, declined to comment on the filing, citing a policy of not discussing products that are still in registration. The move follows Invesco’s earlier decision to take over management of Superstate’s roughly $900 million tokenized Treasury fund, making it the first third-party asset manager to use Superstate’s FundOS platform.
The filing also comes as competition grows among major financial firms seeking a role in stablecoin reserve management. CoinDesk reported that BlackRock, State Street and ProShares have also filed for funds aimed at serving as reserve vehicles, while Citigroup projects the stablecoin market could reach as much as $4 trillion by 2030, compared with roughly $300 billion today.