Stablecoin Reserve-Related ETF 'IQMM' Records Highest First-Day Trading Volume of $17 Billion

ProShares, a major U.S. ETF provider, listed the 'ProShares Genius Money Market ETF (IQMM)' on the New York Stock Exchange (NYSE) on February 19th, achieving a record first-day trading volume of $17 billion (approximately 2.6 trillion yen). This ETF is the first investment product to comply with the U.S. 'Genius Act' reserve requirements for cryptocurrency stablecoins, primarily investing in short-term U.S. Treasury securities and cash with maturities of 93 days or less to ensure relatively high safety. The primary goal of IQMM is to serve as part of the legal reserves for stablecoin issuers under the same act...