Crypto: Proshares Seeks Stablecoin Reserves With Genius Act-compliant...

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.

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. It also says that shares are expected to be held primarily by one or more stablecoin issuers backing outstanding tokens.

The prospectus further warns that future rulemaking under the GENIUS Act or other US legislation could affect how the ETF may be used as a reserve vehicle.

The US GENIUS Act, passed in July 2025, establishes federal standards for payment stablecoin reserves, including requirements that backing assets be held in high-quality, short-duration instruments such as US Treasurys.

Bethesda, Maryland-based ProShares was founded in 2006, and manages more than $95 billion in assets across its ETF and mutual funds, according to the company.

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Source: CoinTelegraph