Asset management behemoth Invesco has filed for a tokenized fund focused on the stablecoin reserve sector. The $2.5 trillion asset manager is enhancing its blockchain initiatives after assuming management of Superstate’s tokenized money market fund earlier this year.

— Invesco has submitted a filing with the SEC to establish the Invesco Stablecoin Reserves Onchain Fund, a tokenized entity that will allocate investments in cash and short-term U.S. Treasuries to support stablecoins.

— This fund, set to operate on a public blockchain and utilize tokenization firm Superstate as a sub-transfer agent, will feature a blockchain-integrated shareholder registry with on-chain tokens that signify ownership.

— Invesco’s strategy further solidifies its position in the tokenization arena, joining a competitive landscape with major asset managers such as BlackRock, State Street, and ProShares, all vying to manage reserves for a stablecoin market that Citi estimates could reach $4 trillion by 2030.

Invesco is gearing up to introduce a tokenized fund catering to the rapidly expanding stablecoin market, highlighting the urgency for traditional asset managers to oversee the reserves backing digital currencies.

The firm, boasting over $2.5 trillion in assets under management, filed with the U.S. Securities and Exchange Commission (SEC) on Wednesday to register the Invesco Stablecoin Reserves Onchain Fund, which will invest in cash and short-term U.S. Treasury securities. This planned portfolio aligns with the reserve stipulations outlined in the GENIUS Act, the U.S. legislation governing payment stablecoins.

The filing identified tokenization expert Superstate as the sub-transfer agent, which will maintain a blockchain-integrated shareholder registry that fuses conventional fund records with on-chain tokens representing ownership. Although the filing indicates that the fund will operate on a public blockchain, it does not specify which network will be used.

An Invesco representative declined to provide comments regarding the filing, stating to Decryptnews that the firm does not discuss products currently in registration.

Invesco’s initiative is yet another indication of asset managers increasingly pursuing new business avenues created by stablecoins. These cryptocurrencies are engineered to uphold a stable value, generally pegged to one U.S. dollar, and are backed by reserve assets like cash and short-term Treasuries. As issuance rises, so does the demand for companies capable of managing these reserves.

Citigroup predicts that the stablecoin market could balloon to as much as $4 trillion by 2030, a significant increase from approximately $300 billion today, presenting a potentially lucrative opportunity for fund managers.

Other major players such as BlackRock, State Street, and ProShares have also filed to launch funds designed to serve as stablecoin reserve vehicles, illustrating the intensifying competition to deliver the infrastructure for digital currencies.

This filing also builds upon Invesco’s extensive tokenization strategy. Earlier this year, the firm took over management of Superstate’s nearly $900 million tokenized Treasury fund, becoming the first third-party asset manager to leverage Superstate’s blockchain-based FundOS platform.

This development positioned Invesco alongside other firms, including BlackRock, Franklin Templeton, and Fidelity, that have embraced tokenized money market funds as a means to modernize how traditional assets are issued, transferred, and settled using blockchain technology.