ProShares now has what it describes as the first money market ETF structured to comply with the requirements of the GENIUS Act.
The ProShares GENIUS Money Market ETF (NYSE:IQMM), launched on Feb. 19, is structured as a cash management tool that invests only in short-term U.S. Treasuries. The company states the fund is intended to provide a high-quality, transparent investment solution for investors seeking conservative investment exposure to government-backed securities.
• ProShares GENIUS Money Market ETF shares are testing new highs. Why did IQMM hit a new high?
Michael L. Sapir, CEO of ProShares, stated that the company believes the ETF will be of interest to a broad spectrum of market participants, including institutional investors and stablecoin treasury managers, as well as financial advisors and individual …