ProShares Launches GENIUS Act Treasury ETF for Stablecoin Reserves

In contrast to commonplace authorities cash market funds, it makes use of a floating web asset worth based mostly on market pricing,

Stablecoin Information

ProShares has launched a cash market ETF structured to qualify as an eligible reserve asset below the GENIUS Act, focusing on potential adoption by stablecoin issuers because the U.S. federal stablecoin framework takes impact.

The fund, buying and selling below the ticker IQMM, invests solely in short-term U.S. Treasurys. In contrast to commonplace authorities cash market funds, it makes use of a floating web asset worth based mostly on market pricing, and it helps intraday buying and selling, same-day settlement, and twin NAV options constructed for institutional reserve administration.

The GENIUS Act, handed in July 2025, units federal requirements for cost stablecoin reserves and requires backing property to be held in high-quality, short-duration devices akin to U.S. Treasurys. ProShares has structured IQMM to align straight with these necessities, positioning it as a reserve automobile for issuers managing excellent token liabilities.

The fund’s prospectus notes that as a result of holdings are restricted to reserve-eligible property, yields might are available in beneath these of cash market funds with broader mandates. It additionally flags that future rulemaking below the GENIUS Act or different U.S. laws might have an effect on how the ETF capabilities as a reserve automobile. ProShares, based mostly in Bethesda, Maryland, was based in 2006 and manages greater than $95 billion throughout its ETF and mutual fund lineup.

Individually, two SUI staking ETFs launched this week. Canary Capital Group listed the Canary Staked SUI ETF on Nasdaq below the ticker SUIS on Wednesday, providing spot publicity to SUI whereas passing via staking rewards from participation within the Sui Community’s proof-of-stake validation course of. The ETF opened at $25.00 per share and closed its first buying and selling day at $24.17, with 3,633 shares altering palms.

Grayscale Investments additionally launched its Sui Staking ETF on NYSE Arca below the ticker GSUI the identical day, structured to mirror staking rewards generated via Sui community participation. SUI is the native token of the Sui Community, a layer-1 blockchain developed by former Meta Libra engineers to help high-throughput, low-cost functions throughout decentralized finance, digital marketplaces, and gaming.

The altcoin ETF launches got here as spot Bitcoin ETF merchandise prolonged a streak of web outflows. U.S.-listed funds recorded $133.3 million in web redemptions on Wednesday, bringing weekly withdrawals to $238 million at that time, per SoSoValue knowledge. BlackRock’s iShares Bitcoin Belief led outflows with $84.2 million leaving the fund. CoinMarketCap’s Crypto Fear and Greed Index stood at 11 out of 100, in Excessive Worry territory.

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