Invesco filed with the US Securities and Exchange Commission on 24 Jun for approval of a blockchain-linked stablecoin reserves money market fund, joining a growing field of asset managers building reserve products for the post-GENIUS Act market.
Invesco Files for Onchain Stablecoin Reserves Fund
26 June 2026 - 04:42 CEST
Joins crowded reserves race
At least seven other investment giants, such as BlackRock, Fidelity and State Street, have introduced stablecoin reserve money market funds in recent months. Similar to products from its peers, Invesco's new fund, part of its Short-Term Investments Trust series, is designed to hold highly liquid, low-risk assets such as cash and short-term US government securities to maintain a steady net asset value of $1.00 per share.
The design of Invesco's product is similar to that of the State Street Stablecoin Reserves Money Market Fund (SSCXX), announced on 16 Jun, which uses the regulated stablecoin custodian Anchorage Digital. Invesco's fund uses Superstate Services LLC as a sub-transfer agent to maintain share records on public blockchains, under the oversight of Invesco Investment Services.
Aligned with GENIUS Act
Invesco, which manages more than $2.2tn in assets, said the fund is designed to operate on a blockchain to offer reserve assets for payment stablecoin issuers aligned with the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act), signed into law on 18 Jul 2025.
The GENIUS Act created a framework under which money market funds registered under the Investment Company Act of 1940 can back the issuance of stablecoins. Under the law, payment stablecoin issuers must back their tokens 1:1 with high-quality liquid assets.
Cash buffer for issuers
Invesco said that the fund does not invest in stablecoins or in stablecoin issuers. Stablecoins are cryptocurrencies that maintain a steady value by being pegged to another asset, such as the US dollar.
These money market funds serve as containers for cash-like assets, enabling stablecoin issuers to meet redemptions and maintain confidence and price stability during volatile markets.
Reserves on blockchain rails
Invesco's version brings the reserve function onto blockchain rails, which may benefit digital asset firms that want their reserve management connected directly to onchain operations.
Atlanta-based Invesco has been a relatively late entrant to digital asset products. Its tokenized and stablecoin-linked offerings have followed those of competitors. The latest fund is a traditional asset management product instead of a speculative crypto investment.
