Tokenized asset management firm Superstate has introduced its first product offering — the Superstate Short Duration U.S. Government Securities Fund, USTB.

USTB is a private fund, tokenized on the Ethereum blockchain, immediately available to U.S. qualified purchasers. It provides investors a compliant alternative to traditional funds, according to a statement.

The tokenized fund invests in short-duration U.S. Treasury and U.S. Agency securities. It targets the federal funds rate, with a 0.15% management fee, and is purchasable and redeemable by accepted investors via Circle’s USDC stablecoin.

“USTB is an opportunity to pilot Superstate’s fund tokenization platform, and is the first of many steps to develop regulated investment tokens,” Superstate CEO and co-founder Robert Leshner …