ProShares’ GENIUS Money Market ETF, trading under IQMM, generated a record $17B in first day trading volume, setting a new benchmark for ETF launches. > IQMM is designed to hold assets that meet US legal reserve requirements for dollar backed stablecoins, aligning with the GENIUS Act. > The law requires stablecoin issuers to maintain 1:1 backing with highly liquid assets such as US Treasury bills. > The $17B debut far exceeded previous ETF records, including BlackRock’s spot bitcoin ETF, which saw $1B in day one volume. > Analysts suggest the surge may reflect large institutional allocations, potentially tied to major stablecoin issuers such as Circle.

From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments