Overview
- This week Invesco submitted a post-effective SEC filing to register the Invesco Stablecoin Reserves Onchain Fund as a new series that would invest in cash and short-term U.S. Treasury securities, target a $1.00 net asset value, and offer daily liquidity for stablecoin issuers.
- The filing names blockchain tokenization firm Superstate as sub-transfer agent and says Superstate will maintain a blockchain-linked shareholder registry with on-chain tokens representing ownership on an unspecified public network.
- The move follows Invesco taking over management of Superstate’s roughly $900 million tokenized Treasury fund earlier in 2026 and extends the firm’s broader push into tokenized money-market products.
- Invesco’s filing joins similar efforts by BlackRock, State Street, ProShares and others racing to supply yield-bearing, auditable reserve vehicles that meet the GENIUS Act’s high-quality liquid asset rules.
- The product’s appeal to stablecoin issuers is clear because it outsources reserve management and offers daily liquidity, but the model depends on SEC approvals and introduces blockchain risks such as smart-contract bugs and network reliability that differ from traditional money-market funds.