USTB2Tokenized Treasury

Superstate Short-Duration US Govt Securities

AUM: $500M
0D change: -
Yield · 7-day net: 5.00%
NAV: 10.0000
Management fees: 0.15%
Minimum: $100K
Redemption: Daily
Launched: 01 Feb 2024

Depends onBNY

Field coverage 92%Primary-source or on-chain verified 100% of tracked metrics0/1 source documents analyst-verifiedLast reconciled 08 Oct 2026

Overview

What this product is

Superstate blockchain-native short-duration US government bond fund.

Underlying asset: Short-Duration US Government Securities
Asset class: Tokenized Treasury
Product structure: Tokenized Fund
Legal structure: US 1940 Act MMF (Rule 2a-7)
Issuer jurisdiction: United States
Fund domicile: United States
Base currency: USD
Launched: 01 Feb 2024

Peer set

Comparable products

Products in the same asset class and currency. Yields are quoted on different bases, so check each one before comparing.


USDY	4.25%	0.50%	$500	$1.32B
USYC2	5.20%	0.00%	$100K	$1.2B
BUIDL	4.16%	0.50%	$5M	$1.1B
USD0PP	5.42%	0.00%	$1	$500.7M
USTB2this product	5.00%	0.15%	$100K	$500M
USTB	4.11%	0.15%	$100K	$445M
OUSG	4.04%	0.15%	$100K	$315.9M

Issuer

Who runs it

Superstate

New York, United States

SEC-registered investment adviser running short-duration government funds where the blockchain is the official books-and-records layer rather than a mirror of an off-chain register.

Portfolio

Composition

US Government Securities (< 1yr)95.0%
Cash5.0%

Weighted average maturity

90 days

No on-chain history has been recorded for this product yet. Its value outstanding comes from issuer disclosure rather than a contract read.

AUM

$500M

Assets under management

No on-chain history recorded for this series yet.

Yield

5.00%

Yield history. 7-day net

No on-chain history recorded for this series yet.

NAV

10.0000

NAV per token

No on-chain history recorded for this series yet.

Movement

Recent daily movement

No on-chain history recorded for this product yet.

Holdings

Disclosure

Underlying portfolio

				Share
US Government Securities (< 1yr)	Treasury bills	-	95.0%
Cash	Cash & equivalents	-	5.0%

Exposure

What you actually own

Economic exposure is to short-duration us government securities. Weighted average maturity is 90 days, which sets how quickly the portfolio reprices as rates move.

Treasury bills: 95.0%
Cash & equivalents: 5.0%

Redemption

Terms

Contractual terms

Redemption frequency: Daily
Dealing cut-off: 14:30 ET
Settlement: T+1
Redemption fee: None
Secondary venues: None disclosed
Transfer restrictions: Qualified purchasers only via Superstate portal.

These are contractual terms from the offering documents. Observed settlement performance and any discretionary accommodation by the manager are explicitly out of scope.

Assessment

Liquidity profile

Primary redemption

Daily · T+1

Off-hours exit

Constrained to 14:30 ET

Secondary market

No secondary venue: primary redemption is the only exit

Transferability

Allow-listed wallets only

Exit fee

No redemption fee

Relationship graph

Operational dependency network

Every firm and system this product relies on. Select any of them to open its profile.

Every counterparty and system this product depends on to function. Each card links to that entity's own profile: the question worth asking of each is what happens to your position if it stops working.

Open in Ecosystem Graph →

Issuance & legal

Who is legally on the hook for this product.

Issued bySuperstateNew York, United Statesderived Administered bySuperstateNew York, United Statesderived Transfer agent of recordSuperstateNew York, United Statesderived

Custody

Where the backing assets actually sit.

Custodied byBNYNew York, United Statesderived

Markets & settlement

Where it trades and how value moves between venues and chains.

Deployed onEthereumpublic l1 · 100% of supplyderived

Edges marked derived are inferred from a structured field on this product that carries its own source; they are not independent confirmation of it. Edges without that mark were sourced separately from a disclosure naming both parties.

Deployments

Registry

Networks and contracts

		Contract / asset id
EthereumPrimary	public l1		100.0%

Counterparties

Service providers

If any of these has a problem, this product is affected.

Custodian: BNY· New York, United States
Administrator: Superstate· New York, United States
Transfer agent: Superstate· New York, United States
Tokenization platform: Superstate· New York, United States
Oracle / attestation: Not disclosed

Access

Classification

Who may hold this

RetailNot eligible

AccreditedEligible

ProfessionalNot eligible

InstitutionalEligible

Minimum investment: $100,000
Allow-list required: Yes
Transfer restrictions: Qualified purchasers only via Superstate portal.

Geography

Where it is available

United StatesAvailable

European UnionNot available

SingaporeNot available

United KingdomNot available

SwitzerlandNot available

Hong Kong SARNot available

United Arab EmiratesNot available

Explicit prohibitions

Availability is limited to the jurisdictions in the coverage boundary. Absence here means not covered, not necessarily prohibited. This is a classification of the offering documents, not legal advice.

Structure

Legal and regulatory

Legal structure: US 1940 Act MMF (Rule 2a-7)
Product structure: Tokenized Fund
Fund domicile: United States
Issuer jurisdiction: United States
Transfer agent: Superstate

The domicile of the fund and the jurisdiction of its manager are frequently different. Both are recorded separately because they drive different questions: tax and insolvency follow the domicile, supervision follows the manager.

Source documents

Offering documentation

The documents behind the figures on this page. Anything marked verified has been checked by an analyst.

Superstate USTB Prospectusprospectus · 01 Feb 2024Queued↗

On-chain activity

Daily value outstanding

Value outstanding as read from the token contracts each day, and the movement between readings. Mints and redemptions are not separable on-chain, so this is the net of both, not gross issuance.

No on-chain history recorded for this product yet.

Related intelligence

1 events reference this product

03 Nov 2026Market Structure

Bitwise To Take Over Superstate's $267M Tokenized Carry Fund - CoinMarketCap

Bitwise is taking over the management of Superstate's $267M tokenized carry fund, marking a major consolidation move in the tokenized treasury and carry fund asset management sector.

This acquisition consolidates institutional distribution power under Bitwise, signaling increasing market concentration in tokenized yield vehicles. For allocators, the transition tests operational continuity and asset stickiness during manager migration, establishing a precedent for M&A consolidation within specialized tokenized asset sectors.