Superstate
New York, United States · active since 27 Feb 2024 · 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.
- Products issued
- 1
- Servicing mandates
- 2
- Tokenized AUM issued
- $570.4M
- Networks
- 2
- Counterparties
- 2
- Activity score
- 50
Rank 6 of 16 issuers
This firm's share of tokenized fund and securities assets, and how its rank has moved in 30 days.
- Share
- 7.2%
- 30D share move
- +49bp
- Rank move
- ▲1
- Entered
- 27 Feb 2024
Apparent diversification often collapses here: competing issuers frequently depend on the same transfer agent and custody stack.
Tokenized products issued
| Superstate Short Duration US Government Securities FundUSTB | Tokenized Treasury | $570.4M | +0.8% | 4.11% | Daily | US |
Products serviced
Products from other issuers that rely on this firm.
Activity timeline
Everything we have tracked involving this firm, newest first.
- AdoptionAdoption18 Aug 2026 · 11d agoSuperstate fund crosses $740M as allow-list expands to insurance mandates
Insurance general accounts are the first genuinely rate-sensitive, mandate-constrained buyer to appear on an on-chain register. Their diligence standard is materially higher than crypto treasuries, this is the strongest signal yet that the books-and-records-on-chain model clears traditional legal review.
- RegulationRegulatory Development13 May 2026 · 4mo agoUS regulator staff confirm transfer-agent-of-record model for on-chain registers
Removes the last structural question hanging over US products: whether the on-chain record is the record. Funds still running a mirrored off-chain register now carry an explanation burden they did not have before.
- InfrastructurePartnership19 Mar 2026 · 5mo agoAnchorage adds qualified custody for two additional tokenized fund issuers
A second custody tier is forming: chartered digital-asset banks for crypto-native issuers, global custodians for traditional managers. Allocators should expect different operational risk profiles between the two even where the fund strategy is identical.
