BlockBeats News, June 26th - Asset management giant Invesco, with assets under management of over $2.5 trillion, submitted an application to the U.S. Securities and Exchange Commission on Wednesday to register an "Invesco Stablecoin Reserve On-chain Fund." The fund will invest in cash and short-term U.S. Treasury securities, and its structure will align with the reserve requirements for payment-type stablecoins as outlined in the "GENIUS Act."

This application lists tokenization specialist institution Superstate as the sub-transfer agent, which will maintain a blockchain-integrated shareholder register combining traditional fund records with on-chain ownership tokens. The fund will operate on a public blockchain, although the application file did not disclose the specific network.

Invesco's move is the latest signal of traditional asset management institutions vying for a share of the stablecoin reserve management market. As the issuance of stablecoins continues to expand, the demand for reserve asset managers has surged. Citigroup predicts that the stablecoin market could expand from the current approximately $300 billion to $40 trillion by 2030, creating significant potential opportunities for fund management companies. BlackRock, State Street Bank, and ProShares have all submitted similar fund applications, intensifying the competitive landscape.

This application is also an extension of Invesco's broader tokenization strategy. Earlier this year, Invesco took over a tokenized government bond fund with around $900 million in assets under Superstate, becoming the first third-party asset management institution to use the Superstate blockchain FundOS platform. This move placed Invesco alongside pioneers in the tokenized currency market funds such as BlackRock, Franklin Templeton, and Fidelity. An Invesco spokesperson declined to comment on this application, citing that the product is still in the registration phase.