Superstate launches tokenized U.S. government securities fund based on Ethereum

Tokenized asset management company Superstate has launched its first product, the Superstate Short-Term US Treasury Bond Fund (USTB). USTB is a private fund tokenized on the Ethereum blockchain and immediately available to qualified US buyers. A statement claims it provides compliant alternatives to traditional funds for investors. The tokenized fund invests in short-term US Treasury bonds and US institutional securities. It targets the federal fund rate, charges a management fee of 0.15%, and can be purchased and redeemed by qualified investors through Circle's USDC stablecoin.