Invesco to Manage $900M On-Chain Treasury Fund
On March 24, 2026, global asset manager Invesco announced it will take over management of Superstate’s Short Duration US Government Securities Fund (USTB), an on-chain fund with over $900 million in assets. This positions Invesco, which oversees $2.2 trillion in assets, as a major new player in the tokenization of real-world assets. The transition is expected to complete in the second quarter of 2026.
Following the change, the fund will be renamed the Invesco Short Duration US Government Securities Fund. However, it will retain its USTB ticker and existing token structure. Invesco's global liquidity team, which manages over $200 billion in short-term assets, will assume responsibility for the fund's day-to-day investment decisions, lending its institutional weight to the rapidly expanding digital asset class.
Asset Giants Compete in $12B Tokenized Treasury Market
Invesco's move places it in direct competition with other financial behemoths like BlackRock, Franklin Templeton, and Fidelity Investments, all of which are actively developing products in the $12 billion tokenized U.S. Treasuries market. This sector is gaining significant traction among institutional investors for the efficiencies it offers over traditional financial infrastructure.
The key advantages of tokenized funds include near-instant settlement times, transparent reserves recorded on a blockchain, and the ability to trade around the clock. These features can reduce costs and broaden accessibility for investors. The growth of this market reflects a strategic push by major financial institutions to leverage blockchain technology for core financial products, signaling a long-term convergence of traditional and decentralized finance.
Superstate Retains Tech Layer in Hybrid Model
The partnership establishes a clear division of responsibilities. While Invesco handles asset management, fintech firm Superstate will continue to operate the fund's technology layer. This includes issuing fund shares as tokens, settling transactions on-chain, and maintaining the digital transfer agent system. This hybrid model allows each firm to focus on its core competency—Invesco on investment strategy and Superstate on blockchain infrastructure.
Invesco has been strategically building the capabilities required to support institutional-grade digital asset products. Superstate’s onchain infrastructure pairs naturally to support Invesco’s ambitions to scale tokenized offerings over time.
— Kathleen Wrynn, Global Head of Digital Assets, Invesco.
