Overview
- Invesco submitted a post-effective Form N-1A to the SEC on Wednesday to add the Invesco Stablecoin Reserves Onchain Fund as a series of its Short-Term Investments Trust and said the registration should become effective in about 60 days if approved.
- The proposed fund would hold cash and short‑term U.S. Treasury securities, target a $1.00 net asset value, and provide daily liquidity to serve as a regulated reserve vehicle for payment stablecoins.
- The filing names Superstate as sub-transfer agent to maintain a blockchain-integrated shareholder registry and says shares will be recorded on a public blockchain but does not specify which network will be used.
- The move follows Invesco’s March takeover of Superstate’s tokenized Treasury fund and places the firm in a fast-moving race with BlackRock, State Street, Fidelity and others to capture growing stablecoin reserve flows projected by some banks to reach trillions.
- Industry observers warn the structure raises new risks for issuers and markets because tokenization adds smart‑contract and network failure exposure and concentrating large stablecoin reserves into a few short‑term Treasury funds could create redemption stress and pressure on short‑term Treasury yields.