Invesco Short Duration US Government Securities Fund

USTB is a tokenized private fund that holds short-duration U.S. Treasury and U.S. Agency securities, managed by Superstate with Federated Hermes as sub-advisor. It is designed for U.S. Qualified Purchasers who want exposure to government securities through a blockchain-based structure. The fund addresses the practical gap between traditional fixed-income instruments and on-chain capital, letting eligible investors subscribe and redeem using USDC at a daily net asset value.

The fund issues ERC-20-compatible tokens on Ethereum, where an on-chain Allowlist enforces compliance by restricting ownership and transfers to verified addresses. Investors can subscribe and redeem at a daily NAV calculated by the fund's appointed administrator, with USDC accepted as the settlement medium. Token holders may self-custody in an externally owned account, multi-signature wallet, or MPC wallet, or they may use one of two designated qualified custodians.

The fund charges a 0.15% annual management fee, paid by investors and received by the fund manager. At the point-in-time snapshot, circulating supply stands at approximately 74,677,184 tokens priced at 11.19 USD each, producing a market capitalization of roughly 835,689,365 USD. Because no maximum supply is defined and the dilution overhang is recorded at 0.0%, the fully diluted valuation equals the market cap, meaning the fdv-to-mcap ratio is 1.0. Beyond the management fee, the data records no additional protocol-level fee stream.