Superstate
Issuer of tokenized funds such as USTB, a short-duration US Treasury fund for accredited investors.
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Superstate key facts
| Category | Asset tokenization |
|---|---|
| Platforms | Web |
| Fees | USTB management fee 0.15% or less |
| US availability | US accredited investors and qualified purchasers only |
| Company | Transfer agent: Superstate Services LLC |
| Chains | Ethereum, Solana, Plume (USTB) |
| Pricing | USTB minimum initial investment $100,000 unless waived |
| Security audits | Macro (11 audits), ChainSecurity |
What is Superstate?
Superstate issues tokenized funds. USTB, the Invesco Short Duration US Government Securities Fund, holds short-duration Treasury bills, is open to accredited investors and qualified purchasers, and charges a management fee of 0.15% or less. Subscriptions and redemptions settle in USD or USDC each market day.
How Superstate works
Superstate issues fund shares as tokens and keeps the official register as transfer agent.
USTB, managed by Invesco Advisers, holds short-duration US Treasury bills; BNY Mellon is custodian and PwC the auditor. Its NAV per share started at $10 and rises continuously as interest accrues, instead of paying distributions. Shares exist as tokens on Ethereum, Solana and Plume, or as book-entry records, and move only between allowlisted addresses. Other funds include Bitwise USCC, a crypto basis and staking fund, and Coinbase CUSHY, a stablecoin credit fund.
The token contracts are upgradable, and an admin address controls minting, allowlist changes and forced burns when legal circumstances require. Superstate also runs Opening Bell, which issues shares of public companies as tokens on Solana and Ethereum. Those are legal shares, not derivatives. You can move eligible shares from a brokerage by DRS transfer, which takes 2 to 3 business days, and convert book-entry shares into tokens.
How to start with Superstate
- Register at superstate.com/register, confirm your email, set a password and add 2FA.
- You then complete an Investing Entity Application with ID, SSN or TIN, address and ownership details; USTB and USCC also need proof of accredited investor status.
- The getting-started page says funds require qualified purchaser status with $5M of investable assets for individuals or $25M for institutions, and the US is among supported countries.
- USTB's minimum initial investment is $100,000 unless waived.
- Tokenized equities need no accreditation.
Superstate fees and limits
- USTB charges a management fee of 0.15% or less.
Subscriptions settle by USD wire or USDC on Ethereum or Solana, depending on the fund. USDC orders are delivered immediately, even on non-business days, while USD wires settle same day if received before 5pm ET. Redemptions pay out immediately in USDC, subject to liquidity, or same day in USD if requested before 1pm ET. You pay gas on USDC transfers and token burns, plus bank fees on wires.
Risks to know before using Superstate
- Superstate holds admin rights over its contracts, including the power to burn an investor's tokens if legally required, and can restore holdings if an allowlisted address is compromised.
- Fund assets sit off-chain with qualified custodians, while USDC in transit is held at Circle.
- Keys are managed through Turnkey.
- Superstate lists audits and a bug bounty on its docs but pays no formal rewards.
- Tokens only move between allowlisted addresses, so you cannot sell USTB to anyone outside the allowlist.
Superstate alternatives
Other projects people compare with Superstate.
Infrastructure for asset managers to tokenize, manage and distribute real-world assets onchain.
Issuer of tokenized Treasury funds (OUSG, USDY) and tokenized US stocks for eligible investors.
Tokenization firm with broker-dealer and transfer agent entities, offering tokenized funds and stocks.
Where Superstate ranks on DappAtlas
Listed next to Superstate
Superstate pros and cons
- USTB management fee of 0.15% or less
- Subscriptions and redemptions in USD or USDC each market day
- US-domiciled fund with its own transfer agent
- Open only to accredited investors and qualified purchasers
- Funds need accredited or qualified purchaser status; only tokenized stocks are open to all
- USTB minimum initial investment is $100,000 unless waived
Superstate FAQ
What is Superstate?
Superstate issues tokenized funds. USTB, the Invesco Short Duration US Government Securities Fund, holds short-duration Treasury bills, is open to accredited investors and qualified purchasers, and charges a management fee of 0.15% or less. Subscriptions and redemptions settle in USD or USDC each market day.
How much does Superstate cost?
USTB management fee 0.15% or less, according to Superstate’s own page (checked Sep 26, 2026).
Is Superstate available in the US?
US accredited investors and qualified purchasers only, according to Superstate’s own page (checked Sep 26, 2026).
Sources
- Superstate: official site
- Superstate: USTB
- Superstate: Invesco USTB
- Superstate Docs: Smart contracts, Audits
- Superstate: Getting started
- Superstate: Required documents
- Superstate: Subscribe
- Superstate: Redeem
- Superstate: Available funds
- Superstate: Tokenized equities
- Superstate: Security
- Superstate: Smart contracts
How this page works
Sources: Superstate: official site, Superstate: USTB, Superstate: Invesco USTB. Data as of Oct 1, 2026.
Not affiliated with any project listed. Educational content, not financial advice.