ProShares has floated a money market exchange-traded fund (ETF), designed to meet the requirements of the Guiding and Establishing National Innovation for US Stablecoins (Genius) Act and be eligible for stablecoin reserve investment.
ProShares has introduced the ProShares GENIUS Money Market ETF (IQMM), described by the firm as the first money market ETF structured to comply with the Genius Act. The framework makes the fund eligible for use in stablecoin reserves. The fund applies stricter criteria than standard money market rules IQMM invests exclusively in short-term US Treasuries and is positioned as a conservative cash management vehicle focused on capital preservation and stability. The ETF offers intraday trading