Invesco, a $2.45 trillion asset manager, has filed with the SEC to launch the “Stablecoin Reserves Onchain Fund,” a tokenized money market vehicle designed to back payment stablecoins under the GENIUS Act.
Filing with the Securities and Exchange Commission positions Invesco at the forefront of institutional adoption of tokenized funds, signaling how traditional finance is converging with blockchain infrastructure.
Invesco’s Strategic Intent
On June 24, 2026, Invesco submitted a post-effective amendment on Form N-1A to the SEC, seeking approval for the Invesco Stablecoin Reserves Onchain Fund.
The fund will be slotted into Invesco’s existing Short-Term Investments Trust as a new series, with an expected effective date 60 days after filing. Its portfolio will consist of cash and short-term U.S. Treasuries, targeting a stable $1.00 net asset value (NAV).
Shares of the fund will be tokenized and recorded on public blockchains, with Superstate acting as the sub-transfer agent responsible for the tokenization process.
The filing is explicitly designed to meet the reserve requirements of the GENIUS Act, which mandates that payment stablecoins be backed by high-quality liquid assets.
Invesco’s fund would provide issuers with a compliant, yield-bearing vehicle to park reserves, offering daily liquidity to facilitate redemptions.
Invesco is one of the world’s largest asset managers, overseeing $2.45 trillion in assets. The firm has been steadily expanding into blockchain-linked products.
Earlier in 2026, Invesco partnered with Superstate to manage the USTB tokenized money market fund, which has accumulated nearly $900 million to $967 million in assets under management. This collaboration introduced Invesco to tokenized fund infrastructure, laying the groundwork for the new stablecoin reserves initiative.
By leveraging its scale and regulatory expertise, Invesco is positioning itself as a trusted provider of tokenized financial products, bridging traditional capital markets with emerging blockchain ecosystems.
Understanding Tokenized Funds and Stablecoin Reserves
A tokenized fund is a traditional investment vehicle—such as a money market fund—whose shares are represented digitally on a blockchain.
Tokenization allows investors to hold and transfer fund shares onchain, improving transparency, settlement speed, and interoperability with decentralized finance (DeFi) applications.
Unlike conventional funds, tokenized funds can integrate directly into crypto infrastructure, enabling real-time audits and programmable financial interactions.
Stablecoins are digital assets pegged to fiat currencies, most commonly the U.S. dollar.
To maintain their peg, issuers must hold reserves of liquid assets such as cash, Treasury bills, or commercial paper. These reserves ensure that stablecoins can be redeemed at par value.
The credibility of a stablecoin depends heavily on the transparency and quality of its reserves. Invesco’s proposed fund would serve as a regulated, tokenized reserve vehicle, offering issuers both compliance and yield.
Broader Market Context
The GENIUS Act, passed in the U.S., establishes a federal framework for payment stablecoins.
It requires issuers to back tokens with high-quality liquid assets and provides regulatory clarity for their operation.
Invesco’s filing is tailored to meet these requirements, effectively creating infrastructure for stablecoin issuers to comply without building bespoke reserve management systems. This alignment makes the fund a potential cornerstone of the GENIUS Act’s implementation.
Invesco is not alone in pursuing tokenized funds. Morgan Stanley and other major financial institutions have also announced similar initiatives, reflecting a broader race to tokenize money market products.
The trend underscores how traditional finance is embracing blockchain technology to modernize financial infrastructure.
