ProShares | Crypto

The exchange has invested an undisclosed amount in ProShares’ Treasury-focused ETF built for the post-GENIUS era as lawmakers debate whether stablecoin issuers can offer yield-bearing products. Crypto exchange Coinbase has invested in ProShares' stablecoin-focused money market fund, betting that demand for stablecoin reserve-management products will grow as the recently enacted GENIUS Act formalizes the types of assets that can back US dollar-pegged tokens. Coinbase (COIN) announced Tuesday that it made an undisclosed investment in the ProShares GENIUS Money Market ETF (IQMM), which is designed to hold assets that qualify as reserves for payment stablecoins under the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. The GENIUS Act requires stablecoin issuers to back their tokens with highly liquid assets, including cash, bank deposits and short-term US Treasury securities. IQMM was created to provide exposure to those types of reserve assets through a publicly traded fund structure...

The ETF invests exclusively in short-term US Treasurys and is structured for potential use by stablecoin issuers under US reserve requirements. US-based exchange-traded funds issuer ProShares has launched a money market ETF designed to qualify as an eligible reserve asset under the GENIUS Act, positioning it for potential use by stablecoin issuers. The ProShares GENIUS Money Market ETF, trading under the ticker IQMM, invests exclusively in short-term US Treasurys. Unlike conventional government money market funds, it uses a floating net asset value (NAV) based on market pricing and trades intraday on an exchange. According to an announcement on Wednesday, the structure includes same-day settlement and dual NAV features designed for institutional reserve management. Read more

ProShares has listed KRYP, the first U.S. ETF designed to track the CoinDesk 20 Index, giving investors exposure to the largest and most liquid cryptocurrencies.

ProShares launched two exchange-traded funds (ETFs) that seek to deliver 2x returns on the daily price movement of Solana (SOL) and XRP, adding leveraged exposure to the firm’s expanding roster of crypto-linked products, according to a July 15 announcement. The ProShares Ultra Solana ETF (SLON) targets 200% of Solana’s daily performance, while the ProShares Ultra […] The post ProShares debuts 2x leveraged daily exposure to Solana and XRP in new ETFs appeared first on CryptoSlate.

ProShares Trust and Bitwise each filed preliminary prospectuses with the Securities and Exchange Commission (SEC) on June 6 for exchange-traded funds (ETF) designed to track Circle’s CRCL shares. The ProShares Ultra CRCL ETF is a 2x leveraged product that seeks to deliver twice the daily move in CRCL by utilizing swaps and other derivatives, as […] The post ProShares, Bitwise race to launch CRCL ETFs, targeting August debut amid stock price surge appeared first on CryptoSlate.