No ... that's your starter solenoid, its the main ignition curcuit that's blowing, The other fuse, I think, is a spare.
There's a broken/worn wire/wires that's either touching each other or the frame
It's hard to tell where the issue might be but my bet would be to check the loom where it comes around by the steering/bottom fork clamps.
Other than that , I'm afraid it's a strip down to check all connections and the entire loom.