ProShares launches money market ETF for stablecoin issuers

Global asset manager ProShares has listed a dedicated money market ETF, IQMM, for U.S. stablecoin issuers on the New York Stock Exchange (NYSE), The Block reported. The ETF is the first financial product designed to meet the reserve requirements of the U.S. stablecoin regulation known as the GENIUS Act, which took effect last July.