Finst

Invesco Launches Tokenized Fund for Stablecoin Reserves Under GENIUS Act

The fund focuses on cash and short-term Treasuries for stablecoin reserves and uses Superstate for onchain administration. The filing lines up with the U.S. GENIUS Act and the growing market for digital dollars.

By Luc Vesters
• 2 min read
Invesco Launches Tokenized Fund for Stablecoin Reserves Under GENIUS Act

Key Takeaways

  • Invesco has filed with the SEC for a tokenized fund focused on stablecoin reserves.
  • The fund invests in cash and short-term U.S. Treasuries and is meant to align with the GENIUS Act.
  • Superstate will serve as sub-transfer agent and keep a blockchain-integrated shareholder register.

Invesco, one of the world’s biggest asset managers with more than $2.5 trillion (€2.2 trillion) in assets under management, has filed with the U.S. Securities and Exchange Commission (SEC) for a new tokenized fund aimed at the growing stablecoin market. The fund, called the Invesco Stablecoin Reserves Onchain Fund, will invest in cash and short-term U.S. Treasury securities, and is designed to meet the reserve requirements for stablecoins laid out in the U.S. GENIUS Act.

Reserve Requirements and Tokenization

The GENIUS Act, which was introduced in July 2025, requires stablecoin issuers to hold reserves equal to at least 100% of the tokens outstanding. These reserves must consist of high-quality, liquid assets such as U.S. currency, short-term Treasury securities, and overnight repurchase agreements. Invesco’s fund lines up closely with that by investing in cash and short-term U.S. Treasury securities, creating a direct link to the legal framework for stablecoins.

Superstate, a tokenization specialist, has been named sub-transfer agent and will keep a blockchain-integrated shareholder register. This combines traditional fund administration with onchain tokens that represent ownership. While the fund will run on a public blockchain, the network has not been disclosed yet.

Traditional Asset Managers Expanding Into Crypto

This move by Invesco shows the growing interest from traditional asset managers in playing a role in the infrastructure behind digital dollars. As the stablecoin market keeps growing, with market cap already topping $310 billion (€273 billion) by mid-2026, a lucrative market is opening up for managing the underlying reserves. Other major players like BlackRock, State Street, and ProShares have also registered funds focused on managing stablecoin reserves.

Earlier this year, Invesco also took over management of Superstate’s tokenized Treasury fund, which had about $900 million (€794 million), making it one of the first third parties to use blockchain-based fund administration. That puts Invesco among the asset managers using blockchain to modernize and make traditional investment products more efficient.

Why This Matters for European Crypto Investors

For European crypto investors, the rise of tokenized funds like Invesco’s could be interesting because they bridge traditional financial markets and the crypto world. By tokenizing funds and making them comply with strict reserve requirements, there may be more transparency and confidence around stablecoins. This could also affect the adoption and regulation of similar products in Europe, where the MiCA rules are aiming for similar goals.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.