Invesco Submits Application to SEC for New Money Market Fund Focused on Stablecoin Reserves

CoinFeed June 26 news, according to The Block, Invesco, with $2.45 trillion in assets under management, has submitted an application to the SEC to launch the Invesco Stablecoin Reserves Onchain Fund, a new money market fund focused on stablecoin reserves. The fund will primarily invest in U.S. Treasury bonds, repurchase agreements, and cash equivalents to maintain a net asset value of $1, and will use blockchain infrastructure company Superstate as a sub-transfer agent to tokenize fund shares on designated public blockchains. The product is designed for the reserve management needs of stablecoin issuers, enabling them to earn yield while holding compliant reserves and maintaining daily liquidity.