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.

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 an announcement on Wednesday, the structure includes same-day settlement and dual NAV features designed for institutional reserve management.

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