Invesco Takes Over $967M Tokenized Treasury Fund as Market Hits $12B

Invesco is entering the tokenized treasury fund market with a direct move rather than a pilot. The $2.2 trillion asset manager will take over management of Superstate’s USTB fund. This holds about $967 million in short-term US government securities. The timing of the transition is notable, coming as tokenized Treasuries continue to gain traction among large asset managers. This is even reshaping how short-term government securities are distributed and traded.

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Invesco Joins BlackRock and Franklin Templeton in $12B Tokenized Market

The Invesco USTB fund will be rebranded as the Invesco Short Duration US Government Securities Fund in Q2 2026. Its structure will remain the same. This includes the USTB ticker, smart contracts, and token setup. Superstate will continue to operate the on-chain infrastructure and act as a transfer agent.

USTB launched in 2024 and has grown into one of the largest products in the tokenized Treasury market. It has more than 150 institutional investors and has processed billions of dollars in transactions.

Invesco’s Global Liquidity team, which manages over $200 billion in short-term assets, will take over portfolio management. The firm said it has been building digital asset capability since 2019. Kathleen Wrynn, Global Head of Digital Assets at Invesco, said,

“Invesco has been strategically building the capabilities required to support institutional-grade digital asset products since 2019, and this partnership reflects that long-term commitment.”

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Tokenized Treasury Market Crosses $12 Billion as Competition Grows

The tokenized Treasury market has just reached about $12 billion in assets. BlackRock’s BUIDL fund leads with roughly $1.7 billion. This is followed by Circle’s USYC at around $1.6 billion. Franklin Templeton and Fidelity have also launched tokenized Treasury products.

These funds hold traditional government securities but use blockchain for issuance and settlement. This allows faster transactions and continuous access compared to traditional systems.

The Superstate USTB and Invesco partnership reflects a trend of traditional asset managers working with blockchain-native infrastructure providers. A similar direction is seen in the New York Stock Exchange’s agreement with Securitize to support tokenized securities.

The latest move places Invesco along with BlackRock, Franklin Templeton, and Fidelity as traditional firms that are expanding into tokenized assets. This trend is shaping RWA on Wall Street in 2026.

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