Invesco files for a tokenized money market fund designed to hold stablecoin reserves compliant with the GENIUS Act, partnering with Superstate for blockchain settlement.
Invesco filed with the SEC to launch a tokenized money market fund for stablecoin reserve management. The portfolio will invest in cash, cash equivalents, repurchase agreements, and short-term U.S. Treasury securities while maintaining a stable $1 net asset value. The proposed fund will qualify as a Rule 2a-7 government money market fund within Invesco's Short Term Investments Trust.
The filing said the reserve portfolio is designed to satisfy asset eligibility requirements under the GENIUS Act, the federal law governing payment stablecoins. Stablecoin issuers must hold one-to-one reserves in safe, liquid assets under the GENIUS Act.
Superstate will act as the fund's sub-transfer agent and maintain a blockchain-integrated shareholder registry that links conventional fund records with on-chain ownership tokens. The filing did not name the public blockchain but said tokenized shares will be issued on a designated public network.
The registration builds on an existing partnership. Earlier this year, Invesco assumed day-to-day portfolio management of Superstate's tokenized Treasury fund, which held roughly $900 million in assets. The product was renamed the Invesco Short Duration US Government Securities Fund while Superstate continued providing tokenization services through its FundOS platform.
State Street launched a similar fund in June, the State Street Stablecoin Reserves Money Market Fund, also a Rule 2a-7 government money market fund backed by Anchorage Digital. ProShares earlier this year introduced the ProShares GENIUS Money Market ETF, trading under IQMM, which invests in short-term U.S. Treasury securities and other government-backed instruments. BlackRock, Franklin Templeton, Fidelity, Morgan Stanley, BNY, JPMorgan, and Goldman Sachs have also filed or introduced products tied to tokenized money market funds or stablecoin reserve infrastructure.
Citigroup has projected that the stablecoin market could grow from about $300 billion to $4 trillion by 2030. The bank said expansion could create a significant market for firms managing the cash and Treasury assets backing dollar-denominated stablecoins.
The filing adds Invesco to a growing group of traditional asset managers positioning for that demand.
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