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Invesco is moving deeper into the stablecoin reserve market after filing with the US Securities and Exchange Commission (SEC) to launch a tokenized money market fund designed for issuers of dollar-pegged tokens.
The proposed Invesco Stablecoin Reserves Onchain Fund would invest in cash, short-term US Treasury securities, and overnight repurchase agreements backed by Treasurys. Those assets match reserve requirements established under the GENIUS Act, the federal stablecoin law enacted in 2025.
The filing comes as asset managers compete to manage reserves backing stablecoins. Some estimate the sector exceeds $315 billion today, whereas Citigroup projects it could reach between $1.9 trillion and $4 trillion by 2030.
JUST IN:
$2.5 trillion asset manager Invesco has filed for a tokenised fund focused on the stablecoin reserve market.
This isn't a crypto company.
It's one of the world's largest asset managers moving further into blockchain.
Earlier this year, Invesco also took over the… pic.twitter.com/qmjyHffUdX
— That Martini Guy ₿ (@MartiniGuyYT) June 26, 2026
Invesco, which oversees about $2.5 trillion in assets, named Superstate as a sub-transfer agent for the fund. The company will maintain a blockchain-integrated shareholder registry that combines conventional fund records with digital shares recorded on a public blockchain.
The filing doesn’t specify which blockchain will host the fund’s shares and leaves the ticker symbol blank.
The fund is structured as a Rule 2a-7 government money market vehicle seeking to maintain a stable $1 share price. It doesn’t hold stablecoins or stakes in stablecoin issuers. Instead, it offers a regulated place for issuers to keep reserves while earning yield from Treasury-backed assets and preserving daily liquidity.
The filing builds on an existing relationship between the two firms. In March 2026, Invesco assumed day-to-day management of Superstate’s tokenized Treasury fund USTB, becoming the first outside asset manager to use Superstate’s FundOS tokenization platform.
Invesco joins a growing list of traditional financial firms pursuing stablecoin reserve products after the GENIUS Act clarified which assets issuers may hold. State Street launched its SSCXX reserve fund in June 2026, while BlackRock, JPMorgan, Fidelity, Goldman Sachs, and Morgan Stanley have introduced or filed similar offerings.
JPMorgan introduced its tokenized liquidity fund on its Kinexys platform in May, while Invesco’s filing names Superstate as the provider responsible for issuing and recording fund shares.
The product remains in registration and isn’t yet available to investors. Invesco hasn’t disclosed a management fee, launch date, or designated blockchain, and the filing indicates the fund could become effective 60 days after its June 24 submission if the SEC doesn’t request amendments.
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