Source: Fortune
Summary
Invesco has launched a crypto investment vehicle, the Superstate Short Duration US Government Securities Fund (USTB), which holds over $900 million in assets under management. The fund is part of a growing category of assets known as “real world assets” (RWAs), which combine traditional investments with blockchain technology. Invesco’s USTB holds only T-bills, while BlackRock’s BUIDL fund holds both Treasury Bills and repos. The appeal of RWAs lies in their ability to provide instant settlement and easy access to yield. Invesco has been building its digital asset capabilities since 2019 and has partnered with Superstate to offer the USTB fund.
Our Reading
The numbers tell one story.
Invesco and Superstate are betting on RWAs, a niche but growing market. BlackRock’s Larry Fink highlighted the importance of tokenization in his annual shareholder letter. Superstate’s Robert Leshner sees the USTB fund as a prototype to show Wall Street that RWAs work in practice. Invesco’s Kathleen Wrynn emphasized the company’s long-term commitment to digital assets. The partnership between Invesco and Superstate reflects the growing interest in RWAs.
Invesco is following BlackRock into the RWA space, but with a smaller fund and a different strategy. The real story is not the size of the fund, but the fact that two major asset managers are now committed to this emerging market.
Author: Evan Null
