USTB
Overview
As of 01/16/2025
The Superstate Short Duration US Government Securities Fund (the “Fund”) offers Qualified
Purchasers access to short-duration Treasury Bills. The Fund’s investment objective is to
seek current income as is consistent with liquidity and stability of principal, targeting
returns in line with the federal funds rate. Ownership in the Fund is represented by an
ERC-20 token, USTB. Subscriptions and redemptions are facilitated through USD or USDC,
with liquidity each market day. 3
For more information on the mechanics behind USTB see our Documentation
Crypto-native features
Continuous NAV/S
The Superstate Short Duration US Government Securities Fund features a continuous NAV per share. This enables interest accrual immediately upon fund receipt, eliminating the need to wait for business days or settlement deadlines.
Read more →Protocol Mint and Redeem
Investors can mint or redeem shares in a single onchain Ethereum transaction. This unlocks critical new workflows for DeFi protocols, stablecoin issuers, and automated investment strategies.
Read more →Historical Data
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Network details
Ethereum | |
Book-Entry | Shares 7,455,445.59 (42.06%) |
Fund service providers & structure
Custodian | UMB Bank, N.A. |
Auditor | Ernst & Young LLP |
NAV Calculation Agent | NAV Fund Services |
Investment Manager | Superstate Inc. |
Sub-Advisor | Federated Hermes, Inc. |
Domicile | United States |
Structure | The Fund is a series of a Delaware Statutory Trust |
Eligible Investors | Qualified Purchasers in supported jurisdictions |
Holdings
4As of 01/17/2025
| Security Name | Par | Base Value/Cost | Eff. Mat | Maturity | Current Yld | % of Fund |
|---|---|---|---|---|---|---|
| U.S. Treasury Bill 01/21/2025 | 7,250,000 | 7,246,597 | 21-Jan-2025 | 21-Jan-2025 | 4.2991 | 3.81% |
| U.S. Treasury Bill 01/23/2025 | 6,225,000 | 6,220,601 | 23-Jan-2025 | 23-Jan-2025 | 4.3105 | 3.27% |
| U.S. Treasury Bill 01/28/2025 | 8,600,000 | 8,588,490 | 28-Jan-2025 | 28-Jan-2025 | 4.4812 | 4.52% |
| U.S. Treasury Bill 01/30/2025 | 11,450,000 | 11,432,613 | 30-Jan-2025 | 30-Jan-2025 | 4.2714 | 6.02% |
| U.S. Treasury Bill 02/04/2025 | 40,500,000 | 40,413,364 | 04-Feb-2025 | 04-Feb-2025 | 4.3584 | 21.27% |
| U.S. Treasury Bill 02/06/2025 | 12,100,000 | 12,071,406 | 06-Feb-2025 | 06-Feb-2025 | 4.3458 | 6.35% |
| U.S. Treasury Bill 02/11/2025 | 11,000,000 | 10,967,392 | 11-Feb-2025 | 11-Feb-2025 | 4.3601 | 5.77% |
| U.S. Treasury Bill 02/13/2025 | 9,500,000 | 9,469,351 | 13-Feb-2025 | 13-Feb-2025 | 4.3917 | 4.98% |
| U.S. Treasury Bill 02/18/2025 | 12,250,000 | 12,205,451 | 18-Feb-2025 | 18-Feb-2025 | 4.3616 | 6.42% |
| U.S. Treasury Bill 02/20/2025 | 7,850,000 | 7,817,297 | 20-Feb-2025 | 20-Feb-2025 | 4.5331 | 4.11% |
| U.S. Treasury Bill 02/25/2025 | 3,000,000 | 2,985,749 | 25-Feb-2025 | 25-Feb-2025 | 4.5127 | 1.57% |
| U.S. Treasury Bill 02/27/2025 | 4,700,000 | 4,676,647 | 27-Feb-2025 | 27-Feb-2025 | 4.4736 | 2.46% |
| U.S. Treasury Bill 03/04/2025 | 12,000,000 | 11,934,744 | 04-Mar-2025 | 04-Mar-2025 | 4.3477 | 6.28% |
| U.S. Treasury Bill 03/06/2025 | 3,000,000 | 2,982,400 | 06-Mar-2025 | 06-Mar-2025 | 4.5237 | 1.57% |
| U.S. Treasury Bill 03/11/2025 | 5,500,000 | 5,465,418 | 11-Mar-2025 | 11-Mar-2025 | 4.3679 | 2.88% |
| U.S. Treasury Bill 03/13/2025 | 2,000,000 | 1,986,861 | 13-Mar-2025 | 13-Mar-2025 | 4.4197 | 1.05% |
| U.S. Treasury Bill 03/18/2025 | 3,000,000 | 2,979,541 | 18-Mar-2025 | 18-Mar-2025 | 4.3841 | 1.57% |
| U.S. Treasury Bill 03/25/2025 | 1,000,000 | 991,848 | 25-Mar-2025 | 25-Mar-2025 | 4.5184 | 0.52% |
| U.S. Treasury Bill 03/27/2025 | 1,500,000 | 1,487,810 | 27-Mar-2025 | 27-Mar-2025 | 4.3574 | 0.78% |
| U.S. Treasury Bill 04/01/2025 | 1,000,000 | 990,976 | 01-Apr-2025 | 01-Apr-2025 | 4.5289 | 0.52% |
| U.S. Treasury Bill 04/03/2025 | 5,000,000 | 4,955,350 | 03-Apr-2025 | 03-Apr-2025 | 4.3351 | 2.61% |
| U.S. Treasury Bill 04/08/2025 | 2,000,000 | 1,980,583 | 08-Apr-2025 | 08-Apr-2025 | 4.4504 | 1.04% |
| U.S. Treasury Bill 04/10/2025 | 9,000,000 | 8,912,746 | 10-Apr-2025 | 10-Apr-2025 | 4.3092 | 4.69% |
| U.S. Treasury Bill 04/15/2025 | 1,500,000 | 1,484,453 | 15-Apr-2025 | 15-Apr-2025 | 4.3719 | 0.78% |
| U.S. Treasury Bill 04/17/2025 | 5,000,000 | 4,947,188 | 17-Apr-2025 | 17-Apr-2025 | 4.3299 | 2.60% |
| U.S. Treasury Bill 04/22/2025 | 1,000,000 | 988,864 | 22-Apr-2025 | 22-Apr-2025 | 4.3510 | 0.52% |
| U.S. Treasury Bill 04/29/2025 | 1,000,000 | 988,015 | 29-Apr-2025 | 29-Apr-2025 | 4.3615 | 0.52% |
| U.S. Treasury Bill 05/13/2025 | 1,500,000 | 1,479,748 | 13-May-2025 | 13-May-2025 | 4.3079 | 0.78% |
| U.S. Treasury Bill 05/20/2025 | 1,250,000 | 1,232,605 | 20-May-2025 | 20-May-2025 | 4.3287 | 0.65% |
| U.S. Treasury Bill 06/05/2025 | 1,000,000 | 983,378 | 05-Jun-2025 | 05-Jun-2025 | 4.4741 | 0.52% |
| U.S. Treasury Bill 06/26/2025 | 1,000,000 | 981,467 | 26-Jun-2025 | 26-Jun-2025 | 4.3308 | 0.52% |
| U.S. Treasury Bill 07/03/2025 | 3,000,000 | 2,942,455 | 03-Jul-2025 | 03-Jul-2025 | 4.2819 | 1.55% |
| U.S. Treasury Bill 07/17/2025 | 1,000,000 | 978,984 | 17-Jul-2025 | 17-Jul-2025 | 4.3296 | 0.52% |
Disclaimers
Past performance does not guarantee future results.
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.
1 7 Day Yield is reflective of the accrued net income from the Fund’s underlying holdings over the past seven days divided by the average outstanding shares for that same period, divided by the last calculated NAV of the Fund, and then annualized. This 7 Day Yield calculation is inclusive of fees and expenses, which are not accrued until the Fund reaches a $200 million Net Asset Value. The return of the Fund’s underlying holdings are variable and will vary.
2 Management Fee and other Fund expenses will not accrue until the Fund reaches a $200 million Net Asset Value; once reached, the management fee and other fees and expenses that may be incurred by investing in the Fund will accrue daily. All investors will be subject to a 0.15% management fee. The Investment Manager will provide a monthly large holder rebate for investors maintaining a daily average holding greater than $25 million and will rebate 0.10% of the management fee for the average daily holding greater than $25 million.
3 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.
4 Portfolio holdings are shown as of the date indicated and are unaudited. Since market conditions fluctuate suddenly and frequently, the portfolio holdings may change and this list is not indicative of future portfolio composition. These portfolio holdings are not intended to be and do not constitute recommendations that others buy, sell, or hold any of the securities listed.