Reserve Assets

Tether reported $1.5 billion in net operating profit for the second quarter of 2026, supported by returns from U.S. Treasury and repurchase agreement holdings. The USDT issuer also expanded its gold and bitcoin reserves, even as the value of those holdings declined alongside weaker gold and bitcoin prices used in its attestation.

Invesco has filed with the SEC to launch a tokenized vehicle designed to hold cash and short-term U.S. Treasuries for stablecoin reserves. The move intensifies a growing race among major asset managers to capture a share of the fast-expanding stablecoin market.

Fidelity Investments is launching a money market fund designed to hold reserves for stablecoin issuers and institutional clients under the new GENIUS Act. The move intensifies competition with traditional asset managers as the stablecoin market expands.