ProShares Introduces Treasury ETF Tailored for Stablecoin Reserves Under GENIUS Act Framework
A new ETF focusing solely on short-term United States Treasury securities has been designed to meet potential stablecoin issuer requirements under federal reserve regulations.
ProShares, an exchange-traded fund provider based in the United States, has introduced a new money market ETF engineered to meet eligibility criteria as a reserve asset under the GENIUS Act framework, making it suitable for adoption by stablecoin issuers.
Trading under the ticker symbol IQMM, the ProShares GENIUS Money Market ETF focuses its investments entirely on short-duration US Treasury securities. The fund distinguishes itself from traditional government money market funds by employing a floating net asset value (NAV) structure that relies on market-based pricing and provides intraday trading capabilities on exchanges.
A Wednesday announcement outlined how the fund's architecture incorporates same-day settlement mechanisms and dual NAV characteristics specifically engineered for institutional reserve management purposes.
The fund's prospectus notes that the portfolio's limitation to assets eligible under GENIUS Act reserve requirements may result in yields that fall below those of money market funds operating with more expansive investment mandates. The document also indicates that shares are anticipated to be predominantly held by one or multiple stablecoin issuers for the purpose of backing tokens in circulation.
Additional prospectus language cautions that forthcoming regulatory developments under the GENIUS Act or other federal legislation could impact the ETF's utilization as a reserve instrument.
Enacted in July 2025, the United States GENIUS Act creates federal-level guidelines for payment stablecoin reserve composition, mandating that backing assets consist of premium-quality, short-maturity instruments including US Treasury securities.
ProShares, headquartered in Bethesda, Maryland, was established in 2006 and currently oversees assets exceeding $95 billion distributed across its range of ETFs and mutual funds, based on company information.
New SUI staking ETFs launch as Bitcoin funds post weekly outflows
This week witnessed multiple asset management firms introducing fresh crypto ETFs, with staking-enabled SUI products among the new offerings.
Canary Capital Group unveiled the Canary Staked SUI ETF on Wednesday, commencing trading on Nasdaq under the ticker symbol SUIS. The product delivers exposure to SUI's spot price while engaging in the Sui Network's proof-of-stake validation mechanism to earn supplementary token rewards that get incorporated into the fund's net asset value.
Data from Nasdaq.com shows the ETF fluctuated between $23.42 and $23.71 on Thursday, with trading volume reaching 3,633 shares at the time of publication. The fund concluded its inaugural trading session on Wednesday at $24.17 per share following an opening price of $25.00.
On that same day, Grayscale Investments announced that its Sui Staking ETF commenced trading on NYSE Arca under the ticker GSUI, providing SUI exposure while incorporating staking rewards earned through network participation into the fund's value.
The Sui Network's native cryptocurrency is SUI, which operates on a layer-1 blockchain developed by former engineers from Meta's Libra project, designed to enable high-throughput, cost-efficient applications spanning decentralized finance, digital marketplaces and gaming platforms.
These alternative cryptocurrency ETF launches occurred as spot Bitcoin ETFs continued experiencing headwinds throughout the week, prolonging their streak of net outflows.
Products listed in the United States saw $133.3 million in net redemptions on Wednesday, pushing total weekly withdrawals to $238 million at that juncture, based on SoSoValue data. The iShares Bitcoin Trust from BlackRock topped the outflow list, experiencing $84.2 million in fund exits.
The Crypto Fear and Greed Index from CoinMarketCap continues registering extreme fear with a reading of 11 out of 100, highlighting the ongoing weak sentiment pervading digital asset markets.
