Invesco Files for Tokenized Fund Targeting Stablecoin Reserves

Stablecoin issuers must back their tokens with highly liquid assets, while interest earned on cash and short-term U.S. Treasuries has created a sizable reserve-management opportunity. Invesco, which manages more than $2.5 trillion in assets, is entering the market to compete with BlackRock, the manager of Circle's USDC reserves. The move reflects how traditional financial institutions are bringing money market funds on-chain.

Invesco filed an application with the U.S. SEC on June 24, 2026, to add the “Invesco Stablecoin Reserves Onchain Fund.” The fund would invest at least 99.5% of its assets in cash, government securities or fully collateralized repurchase agreements and maintain a net asset value of $1 per share. Superstate would record the tokenized shares on public blockchains, and the filing is scheduled to take effect 60 days after submission.