TechFlow News, June 2nd: According to an official announcement, Coinbase has invested in ProShares’ GENIUS Money Market ETF, IQMM. This product is touted as the first money market ETF designed under the GENIUS Act and eligible for stablecoin reserves.
Coinbase stated that as stablecoins increasingly become a critical component of financial infrastructure, industry demand is rising for infrastructure supporting reserve management, liquidity, and share subscriptions and redemptions.
According to available information, IQMM primarily invests in U.S. Treasury securities, cash, and cash equivalents with remaining maturities of no more than 93 days, and is structured to meet the reserve requirements stipulated under Section 4 of the GENIUS Act.
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