ProShares Launches GENIUS Money Market ETF (IQMM) for Stablecoin Reserves
ProShares debuted the first exchange-traded fund structured to serve as a GENIUS Act–compliant reserve vehicle for stablecoin issuers.
ProShares introduced the ProShares GENIUS Money Market ETF (IQMM), which began trading on February 19, 2026. The fund is available to all investors but is primarily designed to serve institutional stablecoin treasuries that must hold compliant reserves [1][2].
IQMM is structured to comply with the GENIUS Act and focuses on liquid, short-term U.S. government securities and cash. The ETF emphasizes Treasury bills with maturities of 93 days or less to maintain liquidity for stablecoin issuers backing tokens 1:1 with easily convertible assets [1][4].
Market observers said the product provides an avenue for major stablecoin issuers — including Ripple, Tether, and Circle — to invest reserves under the new regulatory framework [3].
IQMM is the first ETF specifically structured to act as a compliant reserve vehicle under the GENIUS Act, marking a new on‑ramp for stablecoin treasuries to hold regulated, liquid reserve assets [1][4].
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Citations
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- 1ProShares Launches First ETF for Stablecoin Reserves Under GENIUS ActETHNews• Feb 19, 2026
- 2ProShares Launches First GENIUS Act Compliant Stablecoin Reserve ETF IQMMMoneyCheck• Feb 19, 2026
- 4ProShares Debuts Stablecoin-Ready ETF Compliant with GENIUS ActBlockonomi• Feb 19, 2026
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