US-based exchange-traded funds issuer ProShares has launched a cash market ETF designed to qualify as an eligible reserve asset underneath the GENIUS Act, positioning it for potential use by stablecoin issuers.
The ProShares GENIUS Cash Market ETF, buying and selling underneath the ticker IQMM, invests solely in short-term US Treasurys. Not like typical authorities cash market funds, it makes use of a floating internet asset worth (NAV) based mostly on market pricing and trades intraday on an alternate.
In line with an announcement on Wednesday, the construction consists of same-day settlement and twin NAV options designed for institutional reserve administration.
The prospectus provides that as a result of the portfolio is restricted to reserve-eligible belongings underneath the GENIUS Act, the fund’s yield could also be decrease than that of cash market funds with broader mandates. It additionally says that shares are anticipated to be held primarily by a number of stablecoin issuers backing excellent tokens.
The prospectus additional warns that future rulemaking underneath the GENIUS Act or different US laws might have an effect on how the ETF could also be used as a reserve automobile.
The US GENIUS Act, handed in July 2025, establishes federal requirements for cost stablecoin reserves, together with necessities that backing belongings be held in high-quality, short-duration devices equivalent to US Treasurys.
Bethesda, Maryland-based ProShares was based in 2006, and manages greater than $95 billion in belongings throughout its ETF and mutual funds, in response to the corporate.
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New SUI staking ETFs launch as Bitcoin funds put up weekly outflows
A number of asset managers rolled out new crypto ETFs this week, together with staking-focused SUI (SUI) merchandise.
On Wednesday, Canary Capital Group launched the Canary Staked SUI ETF on Nasdaq underneath the ticker SUIS, providing publicity to the spot value of SUI whereas taking part within the Sui Community’s proof-of-stake validation course of to generate extra token rewards mirrored within the fund’s internet asset worth.
In line with knowledge from Nasdaq.com, the ETF was buying and selling between $23.42 and $23.71 on Thursday, with 3,633 shares altering arms on the time of writing. The ETF closed its first day of buying and selling on Wednesday at $24.17 after opening at $25.00 a share.
The identical day, Grayscale Investments mentioned its Sui Staking ETF started buying and selling on NYSE Arca underneath the ticker GSUI, providing publicity to SUI and reflecting staking rewards generated by way of participation within the Sui community.
SUI is the native token of the Sui Community, a layer-1 blockchain constructed by former Meta Libra engineers to help high-throughput, low-cost functions throughout decentralized finance, digital marketplaces and gaming.
The brand new altcoin ETFs launched as spot Bitcoin ETFs remained underneath strain this week, extending their run of internet outflows.
US-listed merchandise recorded $133.3 million in net redemptions on Wednesday, bringing weekly withdrawals at that time to $238 million, in response to SoSoValue knowledge. BlackRock’s iShares Bitcoin Belief led the declines, with $84.2 million exiting the fund.
CoinMarketCap’s Crypto Concern and Greed Index stays in excessive worry at 11 out of 100, underscoring persistently weak sentiment throughout digital asset markets.
Concern and Greed index. Supply: CoinMarketCap.com
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