• ProShares seeks stablecoin reserves with GENIUS Act-compliant Treasury ETF The ETF invests exclusively in short-term US Treasurys and is structured for potential use by stablecoin issuers under US reserve requirements. • Cointelegraph in your social feed US-based exchange-traded funds issuer ProShares has launched a money market ETF designed to qualify as an eligible reserve asset under the GENIUS Act, positioning it for potential use by stablecoin issuers. • The ProShares GENIUS Money Market ETF, trading under the ticker IQMM, invests exclusively in short-term US Treasurys. • Unlike conventional government money market funds, it uses a floating net asset value (NAV) based on market pricing and trades intraday on an exchange. • According to anannouncementon Wednesday, the structure includes same-day settlement and dual NAV features designed for institutional reserve management. • The prospectus adds that because the portfolio is limited to reserve-eligible assets under the GENIUS Act, the fund’s yield may be lower than that of money market funds with broader mandates.
Article Summaries:
- ProShares has launched the GENIUS Money Market ETF (ticker IQMM), a money‑market fund that meets the U.S. GENIUS Act’s criteria for stable‑coin reserve assets. The ETF holds only short‑term U.S. Treasuries, uses a floating net asset value based on market pricing, and trades intraday on an exchange with same‑day settlement and dual‑NAV features for institutional reserve management. Because the portfolio is limited to GENIUS‑eligible instruments, its yield may be lower than broader money‑market funds. ProShares notes that future GENIUS‑Act rulemaking or other legislation could affect the ETF’s use as a reserve vehicle.
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