Invesco unveils tokenized fund for stablecoin reserves

Invesco filed to launch a tokenized fund for stablecoin reserves, investing in cash and short-term Treasuries. Shares will be recorded on blockchain, with no crypto investments allowed.

Invesco has filed with the U.S. Securities and Exchange Commission to launch the Invesco Stablecoin Reserves Onchain Fund. This tokenized money market fund is designed to manage reserves backing stablecoins and will primarily invest in cash, U.S. Treasury bills, notes, short-term bonds, and overnight repurchase agreements collateralized by Treasuries. The fund will comply with the GENIUS Act, the U.S. law governing payment stablecoins. Shares of the fund will be tokenized and recorded on public blockchains. Superstate Services LLC will serve as sub-transfer agent, maintaining a blockchain-integrated recordkeeping system. Although the filing does not specify which blockchain will be used, Ethereum is mentioned in the risk disclosures. The fund targets a stable $1 share price and explicitly excludes investments in cryptocurrencies, stablecoins, or stablecoin issuers. This initiative highlights increasing competition among major asset managers to offer compliant reserve solutions for the growing stablecoin market.