ProShares' Money Market ETF Sees $17 Billion Trading Volume on Launch Day

ProShares has introduced its money market ETF, IQMM, specifically targeting U.S. stablecoin issuers. According to NS3.AI, this ETF achieved a remarkable $17 billion in trading volume on its first day. This marks the first financial product to align with the U.S. stablecoin regulation act, GENIUS, which has been in effect since July of last year. In comparison, BlackRock's similar stablecoin money market ETF, IBIT, saw $1 billion in trading volume on its launch day in January 2024.