Invesco has become the investment manager of Superstate's tokenised short-duration US Treasuries fund — known as USTB — combining one of the world's largest asset managers with an established tokenised fund platform in what represents a significant institutional endorsement of blockchain-based fund infrastructure.
Invesco manages approximately $2.2 trillion in assets globally, making it one of the largest traditional asset managers to take direct operational responsibility for a tokenised fund rather than simply participating as an investor or partner. The handover positions USTB as a product with institutional-grade investment management rather than a crypto-native fund operating at the edge of conventional asset management.
Superstate launched USTB as a tokenised short-duration Treasury fund in 2023 and has built it into one of the more established tokenised Treasury products in the market. Invesco's assumption of investment management responsibilities brings the fund within the operational and compliance frameworks of a mainstream asset manager — a step that should increase its accessibility to institutional investors whose mandates require conventional asset manager oversight.
The announcement follows Superstate's $82.5 million Series B round led by Bain Capital Crypto and Distributed Global in January 2026, which included participation from Haun Ventures, Galaxy Digital, and Brevan Howard Digital. The capital raise and the Invesco partnership together signal that Superstate is building toward institutional scale rather than remaining a crypto-native niche product.