Investment management fund ProShares has rolled out a new investment product called a GENIUS Money Market ETF, as per an official Business Wire release on Thursday.
The update comes after the GENIUS Act—a piece of legislation geared towards establishing clear rules for regulating stablecoins—was passed in 2025.
The new ETF is also known as IQMM.
“IQMM reflects ProShares’ continued commitment to building innovative products for evolving markets,” said CEO Michael L Sapir.
“The fund offers a more conservative approach to cash management than is required by standard money market rules, with all the known benefits and convenience of an ETF. We believe that IQMM will be an attractive cash management alternative for institutional investors, including stablecoin treasuries, as well as financial professionals and individual investors.”
The official statement says it is the first ETF to meet the requirements of the GENIUS Act.
Crypto-friendly legislation, Trump’s wave of bills aimed at promoting cryptocurrency and other factors have contributed to the rise of cryptocurrency ETFs in the stock market. However, with the mass wave of liquidations in Late January and early february, it may be a while before Bitcoin is considered palatable again for investment purposes.
According to CoinGlass, Bitcoin ETFs’ daily trading volume was estimated at $3.48 billion.