Invesco Short Duration US Government Securities Fund

USTB is a tokenized short-duration U.S. government securities fund that puts a regulated Treasury strategy on-chain. Managed by Superstate with Federated Hermes as sub-advisor, USTB invests in short-dated U.S. Treasury and agency securities and targets the federal funds rate, letting qualified investors subscribe and redeem using USDC while holding ownership as an on-chain token.

What is the USTB fund?

USTB is a real-world asset fund structured as a series of a Delaware Trust and offered to U.S. Qualified Purchasers. It aims to deliver the yield of short-term government debt in a modern, tokenized wrapper, with a low 0.15% management fee. Superstate positions it as the first step in a broader mission to tokenize traditional assets and make regulated investment products accessible on public blockchains.

How does USTB work?

USTB uses an Ethereum-based allowlist that enables on-chain ownership, transfer and compliance, so only approved addresses can hold the token. Investors subscribe and redeem at a daily net asset value calculated by an independent administrator, paying in USDC. Custody is flexible: holders can self-custody in an EOA, multi-sig or MPC wallet, or use qualified custodians such as Anchorage Digital Bank or BitGo. Future peer-to-peer transfers may be possible subject to restrictions.

USTB tokenomics and supply

USTB has no fixed cap; token supply tracks assets in the fund, expanding on subscriptions and shrinking on redemptions. Circulating tokens number roughly 77.9 million, closely matching total supply. Unlike a stablecoin, its price reflects the value of the underlying portfolio plus accrued yield, which is why USTB trades well above a dollar, with an all-time high near $11.13 and a low around $10.29.

• Assets: short-duration U.S. Treasury and agency securities
• Manager: Superstate, sub-advised by Federated Hermes
• Subscribe and redeem in USDC at daily NAV
• Circulating supply: about 77.9 million USTB

What is USTB used for?

USTB is used by institutions and qualified investors seeking government-backed yield in a composable on-chain form. Because ownership and transfers are handled through an Ethereum allowlist, it can plug into compliant DeFi and treasury workflows as a yield-bearing cash alternative. Its flexible custody options make it suitable for funds and companies managing on-chain reserves.

Where to buy USTB

USTB is accessed primarily through Superstate's onboarding, since participation is limited to eligible U.S. Qualified Purchasers who pass compliance checks. To prepare for self-custody, our best crypto wallets guide reviews Ethereum-compatible wallets, and our best crypto exchanges ranking covers venues that support USDC funding.

Is USTB a good investment?

USTB provides low-volatility exposure to short-term Treasury yield, so returns are steady but modest and move with interest rates. Key risks include eligibility restrictions, smart-contract and allowlist dependencies, and redemption timing. It is built for capital preservation and yield, not price appreciation. This is not financial advice; review the fund's terms and eligibility before investing.