Superstate files plan to launch a tokenized government bond fund

Quick Take

  • The Superstate Short-Term Government Bond Fund, will allow shareholders to hold a record of their ownership of the fund on the Ethereum blockchain. 
  • The fund is “an ultra-short duration government securities fund,” according to the prospectus. 

Investment adviser Superstate Inc. filed a prospectus this week with the U.S. Securities and Exchange Commission to launch a tokenized government bond fund they say could eventually compete with stablecoins. 

The fund, called the Superstate Short-Term Government Bond Fund, will allow shareholders to hold a record of their ownership on the Ethereum blockchain, which they can then either custody on their own or hold with with digital asset custodians, the firm said. 

“Our vision is to create an SEC registered investment product that over time, competes with stablecoins to become the reserve asset & settlement choice of crypto,” the investment adviser said in a statement to The Block. 

The fund is “an ultra-short duration government securities fund,” according to the prospectus, which includes U.S. Treasury securities, U.S. government agency securities