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Invesco Short Duration US Government Securities Fund (USTB)Updated 28 Oct 2026

A private fund holding short-dated Treasury bills and agency securities, launched by Superstate in 2024 for US qualified purchasers, with shares issued as tokens and bought or redeemed in USDC. In 2026 Invesco took over portfolio management and the fund took the Invesco name, while Superstate kept running the on-chain transfer agency. Almost all supply is on Ethereum.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (scaled) since 2025[4] — Around $598 million on chain in October 2026; the March 2026 announcement cited over $967 million. · Reviewed 11d ago

Assets
Fund interest[5]
Fund shares issued as tokens; fund holds short-dated Treasuries and agency securities
Networks
Ethereum Public, permissionless[5]
Plume Public, permissionless[8]
Solana Public, permissionless[8]
Use cases
Primary issuance[5]Fund subscription and redemption[5]
Jurisdictions
United States

Participants

Likely relevant regulation

Assets

Data feeds

  • Fund NAVChainlink LabsNAVLink (Data Feeds)Ethereum[3][2]USTB NAV per share feed, issuer Superstate, data from the asset manager's API. Chainlink also says Superstate is integrating Proof of Reserve for AUM (not recorded until live).
  • Fund NAVChronicle LabsVerified Asset Oracle[1]On-chain NAV data and attestation of the fund's T-bill holdings; networks not named.

Metrics

  • over $967mAssets under management · as of 25 Mar 2026[7]
  • $598.01mAssets under management · as of 11 Oct 2026[4]
    On-chain via rwa.xyz.
  • ~$591.99mAssets on Ethereum · as of 11 Oct 2026 · on Ethereum[4]
    On-chain via rwa.xyz: 52.7 million tokens at about $11.24 NAV.
  • ~$3.9mAssets on Plume · as of 11 Oct 2026 · on Plume[4]
    On-chain via rwa.xyz; supply times NAV.
  • ~$2.13mAssets on Solana · as of 11 Oct 2026 · on Solana[4]
    On-chain via rwa.xyz; supply times NAV.
  • 110 holdersToken holders · as of 11 Oct 2026[4]
    On-chain via rwa.xyz.
  • $5.92bnFund interests sold since launch · as of 7 Jul 2026[9]
    Form D 'total amount sold' since the first sale on 2024-02-14: cumulative subscriptions into the fund, whose interests are issued as tokens; 114 investors had invested. Gross of redemptions, so it is not a balance.
  • 114 investorsInvestors in the offering · as of 7 Jul 2026[9]
    Form D count of investors who have already invested.

Timeline

  1. Happened 11 Oct 2026 · Status change · recorded 11 Oct 2026
    Superstate documentation lists the fund under the Invesco name on Ethereum, Solana and Plume, indicating the transition has completed.[8]
  2. Happened 25 Mar 2026 · Participant joined · recorded 11 Oct 2026
    Invesco and Superstate agree that Invesco Advisers will become investment manager and the fund will take the Invesco name, with ticker and contracts unchanged; Superstate remains transfer agent. Fund assets were above $967 million at the time.[7]
  3. Happened May 2024 (month only) · Scope expansion · recorded 11 Oct 2026
    Peer-to-peer transfers between allow-listed holders enabled.[6]
  4. Happened 1 Feb 2024 · Launch · recorded 11 Oct 2026
    Superstate launches USTB on Ethereum for US qualified purchasers, with a 0.15 percent management fee.[5]

Sources

  1. [1]Chronicle Launches the Verified Asset Oracle, with an Initial Integration by Superstate, which increases transparency for the USTB fund — The Defiant (Chainwire press release), 7 Nov 2024. Accessed 16 Oct 2026. Republished release with a Superstate CEO quote: the oracle provides on-chain NAV data for USTB. chroniclelabs.org's own post blocked (Vercel checkpoint)..B
  2. [2]Chainlink's Work With Major Tokenized Asset Platforms and Stablecoin Issuers — Chainlink. Accessed 16 Oct 2026. Chainlink's own round-up of client announcements (provider self-report); undated page..B
  3. [3]Chainlink data feeds directory: Ethereum mainnet (machine-readable feed list behind data.chain.link) — Chainlink. Accessed 16 Oct 2026. Provider's own feed directory; JSON with no page headline, so the title is descriptive. Each entry names the feed, its proxy contract and, for SmartData feeds, the issuer and data source..B
  4. [4]USTB asset page — RWA.xyz. Accessed 11 Oct 2026.A
  5. [5]Introducing the Superstate Short Duration U.S. Government Securities Fund (USTB) — Superstate, 1 Feb 2024. Accessed 11 Oct 2026.B
  6. [6]Superstate Short Duration US Government Securities Fund (USTB) STEP Application — Superstate (Arbitrum Foundation forum), 2024. Accessed 11 Oct 2026.B
  7. [7]Invesco to Manage SuperState Tokenized USTB; Weekly MF Port Holdings — Crane Data, 25 Mar 2026. Accessed 11 Oct 2026.C
  8. [8]Invesco USTB (fund documentation) — Superstate. Accessed 11 Oct 2026.B
  9. [9]Superstate Short Duration US Government Securities Fund (Superstate Asset Trust): Form D notice of exempt offering (amendment) signed 2026-07-07 — Superstate Short Duration US Government Securities Fund (Superstate Asset Trust) (SEC Form D/A), 7 Jul 2026. Accessed 26 Oct 2026.A
  10. [10]Invesco Short Duration US Government Securities Fund (USTB) asset page — Superstate. Accessed 28 Oct 2026. Service providers section and disclosures read from the page HTML (WebFetch blocked by headers)..B

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