Summary
Superstate, an asset manager focused on tokenized investment products, has launched its first fund called USTB. The fund will invest in short-term US Treasuries and will only be available to Qualified Purchasers, which are entities with a net worth exceeding $5 million. Investors will be able to self-custody their USTB and use various security implementations. Superstate aims to modernize investment funds by bringing tokenization to different asset classes, types of investors, and geographies. Superstate was founded by Robert Leshner, also the CEO of Compound Finance.
Key Points
1. Superstate, an asset manager, has launched its first tokenized investment fund called USTB, which will invest in short-term U.S. Treasuries and charge a management fee of 15 basis points.
2. Only Qualified Purchasers, who typically have a net worth exceeding $5 million, will be eligible to acquire USTB.
3. Superstate aims to modernize investment funds by bringing tokenization methodology to different asset classes, types of investors, and geographies at scale.