Invesco Files SEC Plan for Tokenized Stablecoin Reserve Fund

Invesco filed with the SEC on June 24 to create a fund purpose-built to back stablecoins. The Invesco Stablecoin Reserves Onchain Fund would invest in cash and short-term US Treasuries, targeting a $1.00 net asset value. Shares would be recorded on public blockchains.

The filing, a post-effective amendment to Invesco’s Short-Term Investments Trust, says the new series is designed for stablecoin issuers that need compliant reserve assets. The fund is expected to become effective 60 days after submission.

Superstate will handle tokenization as sub-transfer agent. The two firms already partner on the USTB tokenized Treasury fund, which holds roughly $900 million to $967 million in assets.

The fund’s structure aligns with the GENIUS Act, the stablecoin bill that requires issuers to back tokens with high-quality liquid assets. Instead of building bespoke reserve systems, stablecoin issuers could park cash and Treasuries in Invesco’s vehicle and get daily liquidity for redemptions.

The broader trend of traditional asset managers tokenizing money market funds has accelerated in 2026. Morgan Stanley, another major player in the space, holds an AlphaScala Score of 62/100, reflecting its moderate sector positioning. For Invesco, the move leverages its $2.45 trillion in assets and an existing relationship with Superstate established through the March 2026 USTB transition.

The main risk centers on regulatory execution. The fund’s value depends on the GENIUS Act’s reserve requirements holding as written. There is also blockchain-specific risk: tokenized shares on public networks introduce smart contract and network reliability issues that traditional money market funds avoid.

The fund is expected to become effective 60 days after the June 24 filing.