Invesco Files SEC Registration for Tokenized Stablecoin Reserve Fund Backed by Cash and US Treasuries

Invesco, the $2.5 trillion asset manager, has filed with the SEC to launch the Invesco Stablecoin Reserves Onchain Fund a tokenized vehicle that will invest in cash and short-term US Treasury securities specifically designed to back stablecoins.

The proposed fund aligns directly with reserve requirements set out in the GENIUS Act, the US law now governing payment stablecoins. Tokenization specialist Superstate has been named as sub-transfer agent and will maintain a blockchain-integrated shareholder registry, combining traditional fund records with onchain tokens representing ownership. The fund will operate on a public blockchain, though the specific network has not been identified yet.

Why Every Major Asset Manager Is Suddenly Chasing Stablecoin Reserves

The logic is straightforward. Stablecoins are backed by reserve assets cash and short-term Treasuries and as stablecoin issuance grows, so does demand for firms that can manage those reserves professionally. Citigroup projects the stablecoin market could hit $4 trillion by 2030, up from around $300 billion today.

Invesco is not the only one moving fast. BlackRock, State Street and ProShares have all filed to launch funds targeting the same stablecoin reserve opportunity, turning what was a niche blockchain idea into one of the most competitive races in traditional finance right now.

Invesco Already Has a Head Start

This filing is not Invesco’s first step into tokenization. Earlier this year the firm took over management of Superstate’s roughly $900 million tokenized Treasury fund, becoming the first third-party asset manager to run a fund on Superstate’s blockchain-based FundOS platform. That put Invesco in the same company as BlackRock, Franklin Templeton and Fidelity all of which have embraced tokenized money market funds as the future of how traditional assets are issued, transferred and settled.