The $2.2 trillion asset manager Invesco has teamed up with blockchain firm Superstate to launch the Superstate Short Duration US Government Securities Fund (USTB), a nearly $1 billion onchain money market fund focused on U.S. Treasury securities. Invesco will manage USTB, which uses blockchain technology to tokenize highly liquid, low-risk government debt.

With roughly $1 billion in assets, USTB becomes a top-five tokenized fund, trailing only BlackRock’s BUIDL fund, which holds more than $1.5 billion onchain. Superstate’s role as a transfer agent for this fund highlights its capability to support large-scale institutional tokenization projects beyond money market assets.

The partnership underscores Invesco’s commitment to integrating blockchain into its product lineup and diversifying its fee-generating services through digital asset offerings. By adopting institutional-grade tokenization technology, Invesco gains access to a broader pool of onchain capital and positions itself for future blockchain-based financial products.

Superstate is also advancing other tokenization efforts, including direct equity issuances on Ethereum and Solana, aiming to streamline capital market processes and eliminate intermediaries. These initiatives could pave the way for tokenized shares and other asset classes to join USTB in unlocking blockchain efficiencies for investors and issuers alike.