Invesco Short Duration US Government Securities Fund

USTB is a share of a tokenised US Treasury bill fund managed by Invesco, whose value grows with the interest the bills earn.

USTB is the token of the Invesco Short Duration US Government Securities Fund, a series of the Delaware-based Superstate Asset Trust. It was launched by Superstate in February 2024 as the Superstate Short Duration US Government Securities Fund. It is not a cryptocurrency in the usual sense: each token is one share of a private investment fund, recorded on a blockchain instead of only in a traditional register. The fund invests in short-duration US Treasury bills, and its return is the interest they earn.

The fund does not pay out distributions. Interest earned on the Treasury bills accrues every market day into the net asset value per share, which started at US$10 and was about US$11.22 on 27 September 2026. Holders keep the same number of tokens while each token becomes worth more. The management fee is 0.15% a year, and the 30-day yield shown by RWA.xyz was about 3.3% a year.

In March 2026 Invesco announced it would take over management of the fund, then worth over US$900 million. The fund took the Invesco name in July 2026, and Superstate stays on as technology partner and transfer agent. Shares are issued as tokens on Ethereum, Solana and Plume or held in book-entry form. The fund is a private offering under US securities exemptions, open only to qualified purchasers who pass identity checks, with a US$100,000 minimum. Tokens can move only between wallets on Superstate's allowlist, and Superstate's admin address can mint tokens, change the allowlist and forcibly burn tokens.

USTB is used mainly by crypto firms and funds as a place to keep dollars that earn Treasury yield on-chain instead of holding stablecoins that pay nothing. Investors subscribe and redeem with the fund in US dollars or USDC; the token does not trade on ordinary crypto exchanges.