Invesco has filed with the SEC to register the Invesco Stablecoin Reserves Onchain Fund, a tokenized money market fund targeting stablecoin issuers. It is the latest in a growing list of GENIUS Act compliant reserve funds from major asset managers, but one of a smaller group that will issue fund shares directly as tokens on a public blockchain.
Like all the others, the fund invests in the same narrow set of GENIUS Act eligible assets. Cash, Treasuries with a maturity of 93 days or less, and overnight repos collateralized by Treasuries. The filing was submitted on June 24 and proposes to become effective 60 days later, around late August. No ticker has been assigned yet.
What sets the fund apart is its use of Superstate as sub-transfer agent, with Invesco’s own Invesco Investment Services as transfer agent. Superstate will maintain the official record of share ownership through a blockchain-integrated recordkeeping system that combines off-chain records with onchain tokens on a public blockchain. The specific blockchain is not yet identified in the filing, though Ethereum is referenced extensively in the risk disclosures.
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