26.06.202614:21 Forex Analysis & Reviews: Invesco files with SEC to launch Invesco Stablecoin Reserves Onchain Fund

While the crypto market is having a difficult period, Invesco, which manages $2.45 trillion in assets, filed with the SEC to launch the Invesco Stablecoin Reserves Onchain Fund—a new money market fund specifically designed for stablecoin issuers.

The Invesco Stablecoin Reserves Onchain Fund is a 2a-7 government money market fund that will invest solely in cash, short-dated US Treasuries (with maturities up to 93 days), and overnight repos secured by those assets, i.e., precisely the assets the GENIUS Act permits stablecoin issuers to hold in reserves. The fund will not buy cryptocurrency.

A key feature of the product is that its shares will be tokenized on public blockchains. Ownership will be recorded as a token on a public blockchain via Superstate smart contracts, using a permissioning system (Allowlist) in which transactions are possible only between pre-verified wallets. In essence, the product is a traditional conservative money fund with a blockchain layer for record-keeping and settlement.

Invesco's move underscores how quickly the institutional race for the stablecoin reserve market is unfolding. Last week State Street launched a similar product. Earlier, BlackRock, Morgan Stanley, BNY, JPMorgan, and Goldman Sachs introduced comparable offerings. Now Invesco has joined them.

Essentially, the largest asset managers have reached the same conclusion: the GENIUS Act, which established a federal framework for stablecoins and defined permissible reserve assets, has opened a new multitrillion-dollar market. State Street forecasts the stablecoin market could expand from $320 billion today to $1.9–4 trillion by 2030—implying a proportional rise in the pool of reserve assets that will need to be placed in regulated instruments.

Invesco's cooperation with Superstate already has a track record: in March Invesco took $700 million of tokenized US Treasury bills (USTB) under management, creating a precedent for integrating traditional asset management with blockchain infrastructure. The new fund extends that logic further, adding specialization to meet the GENIUS Act's requirements.

Trading recommendations:

A technical outlook for BTC suggests that buyers are targeting a return to $60,600, which would open a direct path to $62,600 and then to $64,000, the breach of which would signal attempts to revive a bull market. On declines, buyers are expected at $58,500. A return below that area could quickly push BTC toward $56,100, with a farther target at $53,600.

As for Ethereum, a clear hold above $1,568 will open a direct path to $1,645, with a farther target near $1,725. A breach of that level will indicate strengthening bullish sentiment and a return of buyer interest. On the downside, buyers are expected at $1,515. A return below that area could quickly push ETH toward $1,433, with a farther target at $1,338.

What we see on the chart:

- Red lines indicate support and resistance levels where either a price slowdown or active growth is expected;

- Green lines indicate the 50-day moving average;

- Blue lines indicate the 100-day moving average;

- Light green lines indicate the 200-day moving average.

A crossover, or a price test of moving averages, typically either halts the move or sparks fresh market momentum.