Invesco Short Duration US Government Securities Fund
USTBThe Invesco Short Duration US Government Securities Fund, formerly Superstate USTB, is a tokenized short-duration US government securities fund organised as a Delaware trust and managed by Invesco Advisers since Q2 2026 (Superstate retains on-chain transfer-agent duties), offered to qualified purchasers under a Reg D private placement. It holds short Treasuries and agency paper with daily liquidity, and ownership is recorded directly on-chain. USTB scores 81/100 (Tier 2) on the RWTS Trust Score, strong on backing, regulatory framing and verification. The main constraints are permissioned, institutions-only access and reliance on the fund's daily subscription and redemption process rather than open secondary-market trading.
- Issuer / protocol
- Invesco Advisers
- Jurisdiction
- United States (Delaware)US Reg D 506(c), 3(c)(7)
- Backing
- U.S. Treasury securities (Invesco managed)
- Redemption / lock-up
- Permissioned (institutional)
- Audit & proof of reserves
- Independently audited
- Availability
- Global
- Chain
- Ethereum
- Tier
- Tier 2 — Treasury & Fiat-Backed
Scored on the published RWTS methodology (v1.1), reviewed quarterly and on material events. Ratings are independent and never pay-influenced.
Calculations are indicative. Actual yields may vary.
Price data from CoinGecko. Not financial advice.
Current yield of 3.93% sits at 155% of the observed range. This is above the midpoint, indicating relatively attractive rates.
Projections assume constant APY of 3.93%. Actual returns may vary. Not financial advice.
SEC-registered private fund; on-chain access expanding.
Methodology v1.0 · independent rating · published rubric · no issuer payments
Backed by U.S. Treasury securities, asset management by Invesco; sovereign debt instruments.
Invesco standard NAV publication and audited financial reporting; Big Four-equivalent institutional attestation.
Weekly redemption windows for permissioned institutional holders. Right 6/8, route 3/7: one route, enforced by contract or regulation rather than goodwill.
Superstate financial audit + smart contract audits; institutional security standard.
Superstate is SEC-registered; fully US-regulated; Invesco asset manager fully regulated; clear US jurisdiction.
Live since Q1 2024, ~16 months of stable operation, no material incidents.
REDEMPTION_WEEKLY_WINDOWSRedemption available in weekly windows, not same-day.
REDEMPTION_INSTITUTIONAL_ONLYUSTB access restricted to qualified institutional investors.
Caveats document operational realities that don't change the dimensional score but shape practical use.
Beyond USTB's own score, two structural questions matter: what is it built on, and what has broken before in this part of the market. A high score in isolation can still carry hidden, shared exposure.
What this and similar assets are built on, and where contagion could spread.
The depegs, defaults, and exploits that inform the Track Record dimension.
Liquidity read: TVL of $736.72M indicates healthy on-chain liquidity. Lock-up: Permissioned (institutional).
Is USTB safe?
USTB (Invesco Short Duration US Government Securities Fund) scores 81/100 on the independent RWTS Trust Score, which places it in Treasury & Fiat-Backed (Tier 2). Tier 2 is strong: institutional or fiat backing with solid verification, a notch below fully-reserved physical assets. Backing: U.S. Treasury securities (Invesco managed). It is independently audited. The score reflects backing, verification, redeemability, audit, regulatory standing, and track record, not headline yield. We rate. You decide.
Exit routes
9/15 · right 6/8 · routes 3/7If the issuer stopped cooperating tomorrow, could you get out?
One route, and it does not depend on the issuer
- independent
Superstate / Invesco Advisers
NAV redemption for qualified purchasers, administered by the manager.
- issuer
none
No venue carries volume and no pool clears the capacity floor. For a permissioned fund this is design, not defect: the token cannot be held by an unapproved address, so a public market cannot form.
Route 3: one route, and it is enforceable against a regulated manager rather than merely promised. Right 6 because access is gated by qualification and the minimum is institutional. There is no independent route, and for a permissioned fund there cannot be one.
This is the redeemability component of the Trust Score above, which stands at 81/100 (A-). Until 1 September 2026 redeemability was a single figure measuring the right to redeem while ignoring how many routes existed to exercise it. Splitting it moved this asset’s score. How the score works
Assessed 2026-09-01. Route independence asks how many ways out the issuer cannot close, not how much the asset trades.
Compare USTB
Head to head on the Trust Score with similar assets.