TLDR
- Invesco has filed with the SEC to launch the Invesco Stablecoin Reserves Onchain Fund
- The fund will invest in cash and short-term U.S. Treasuries, aligned with GENIUS Act requirements
- Blockchain firm Superstate will act as sub-transfer agent, tokenizing shares on a public blockchain
- BlackRock, State Street, Morgan Stanley, JPMorgan and Goldman Sachs have launched similar products
- Citigroup projects the stablecoin market could reach $4 trillion by 2030
Invesco, the $2.5 trillion asset manager, has filed with the U.S. Securities and Exchange Commission to launch a new tokenized money market fund aimed at the stablecoin reserve market.
LATEST: ⚡ $2.45T asset manager Invesco has filed to launch a GENIUS Act-compliant money market fund designed for stablecoin issuers to hold yield-bearing, liquid reserves on public blockchains. pic.twitter.com/OHy0iR45DM
— CoinMarketCap (@CoinMarketCap) June 26, 2026
The fund is called the Invesco Stablecoin Reserves Onchain Fund. It will invest in cash, short-term U.S. Treasuries, and repo agreements, maintaining a stable $1 net asset value.
The filing was submitted on June 24, 2026. It is expected to become effective approximately 60 days after that date.
What the Fund Is Designed to Do
The fund is built for stablecoin issuers. These are companies that issue digital currencies pegged to the U.S. dollar and need to hold safe, liquid reserves behind them.
Under the GENIUS Act — the federal law passed last summer that created a framework for payment stablecoins — issuers must hold qualifying assets as reserves. Invesco’s fund is designed to meet those requirements.
It will be listed as a government money market vehicle under Rule 2a-7, the same structure used by State Street’s recently launched stablecoin reserve fund.
The fund will be added to Invesco’s Short-Term Investments Trust, an existing Delaware statutory trust that already houses other money market-style funds.
Superstate’s Role and Blockchain Infrastructure
Blockchain infrastructure firm Superstate has been named as sub-transfer agent. Superstate will tokenize the fund’s shares and maintain a blockchain-integrated shareholder registry.
The filing states the fund will operate on a public blockchain, but does not name which network. Superstate has historically tokenized assets on Ethereum and Solana. The SEC filing references risks tied to Ethereum, but does not mention Solana directly.
This is not the first partnership between Invesco and Superstate. In March 2026, Invesco took over day-to-day portfolio management of Superstate’s $700 million tokenized U.S. Treasury fund, which trades under the ticker USTB. That move made Invesco the first third-party asset manager to use Superstate’s blockchain-based FundOS platform.
A Crowded and Fast-Growing Market
Invesco is entering a space that is getting more competitive fast. State Street launched a similar GENIUS-compliant fund last week. BlackRock, Morgan Stanley, BNY, JPMorgan, and Goldman Sachs have all launched comparable products in recent months.
The stablecoin market currently sits at around $300 billion. Citigroup projects it could grow to $4 trillion by 2030, making stablecoin reserve management a potentially large business for asset managers.
Invesco joins BlackRock, Franklin Templeton, and Fidelity as major traditional asset managers that have moved into tokenized money market funds.
An Invesco spokesperson said the firm does not comment on products currently in registration.
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