Introducing the Superstate Short Duration U.S. Government Securities Fund (USTB)
SuperstateFeb 1, 2023
At Superstate we’re modernizing investing, by creating tokenized investment products that leverage the speed, programmability, and compliance advantages of blockchain technology. Tokenization is a fundamental shift in the infrastructure of finance; all assets, including securities, will eventually reside on blockchains. Superstate has an opportunity to help create this future.
Today, we are proud to introduce the Superstate Short Duration U.S. Government Securities Fund (“USTB” or “the Fund”). USTB is a private fund tokenized on the Ethereum blockchain, offered exclusively to U.S. Qualified Purchasers. This marks an important first step, which will ultimately pave the way for registered public investment funds to be tokenized on public blockchains.
USTB’s innovative structure and partnership with established service providers breaks new ground in the private funds space.
The fund invests in short duration U.S. Treasury and U.S. Agency securities, targeting the federal funds rate, with a 0.15% management fee.1
Accepted U.S. Qualified Purchasers are able to subscribe to and redeem from the Fund using USDC2 at a daily NAV which is calculated by NAV Consulting. USTB’s Ethereum-based Allowlist enables on-chain ownership, transfer, and compliance. Additionally in the future, it is likely that peer-to-peer transactions will be possible, subject to applicable restrictions.
The Fund’s flexibility carries through to custody; investors can self-custody USTB in the on-chain addresses of their choice, such as an EOA, multi-sig, or MPC wallet. Additionally, investors can choose to utilize Anchorage Digital Bank National Association, a custodian and federally chartered bank, or BitGo, a qualified custodian and New York state chartered trust.
Superstate, an Exempt Reporting Adviser, serves as the Fund’s investment manager, with Federated Hermes serving as the Fund’s sub-advisor. USTB is a series of a Delaware Trust, which is legally separate from Superstate. For more Fund details, please consult the USTB information page.
USTB marks the start of our mission to tokenize the world’s assets. We’re committed to developing regulated, modern investing products that enhance investment opportunities for institutions, and, ultimately, all investors.
1 While USTB seeks current income as is consistent with liquidity and stability of principal, there is no assurance that USTB will achieve its objective. 2 USTB purchases and redemptions are made in U.S. Dollars. USDC facilitation is done through Circle, a third party. Daily liquidity facilitated through USDC is subject to risks as outlined within USTB’s Offering Documents.
The Superstate Short Duration US Government Securities Fund (“USTB”) will be limited to Investors that meet certain criteria. Investors will be required to provide certain personal and financial information before eligibility to participate in this offering is determined. The information gathered is to ensure compliance with applicable laws including anti-money laundering as well as “qualified purchaser” status, as defined under the Investment Company Act of 1940, and “accredited investor” status, as defined under the Securities Act of 1933. No investment should be made until offering and Fund related documents, which are available upon request, are thoroughly reviewed and understood.
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