ProShares Stablecoin Reserve ETF sets record with $17 billion in first-day trading volume
According to The Block, the GENIUS Money Market ETF (ticker: IQMM) launched by ProShares recorded a historic trading volume of $17 billion on its first trading day, far surpassing the $1 billion first-day performance of a certain bitcoin ETF launched in 2024.
This ETF is specifically designed to hold assets that comply with the U.S. statutory reserve requirements for stablecoins, fully adhering to the GENIUS Act signed last year. The Act requires stablecoin issuers to back their coins 1:1 with safe and highly liquid assets such as U.S. Treasury bonds. Analysts speculate that most of the funds may have come from stablecoin issuer Circle.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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