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ProShares debuts stablecoin-friendly money market ETF with same-day settlement features. * By Jai Hamid * Updated: February 19 2026 7:18 PM UTC 3 mins read In this post: * ProShares launched the GENIUS Money Market ETF (IQMM), which meets GENIUS Act rules and can be used for stablecoin reserves. * IQMM invests only in short-term U.S. Treasuries and offers intraday trading, weekly payouts, dual NAV, and same-day settlement. * President Donald Trump's family is backing USD1, a dollar-pegged stablecoin marketed by World Liberty Financial as an upgraded version of the U.S. dollar. ProShares on Wednesday announced the launch of the ProShares GENIUS Money Market ETF (IQMM) and said the fund meets the strict requirements of the GENIUS Act, which makes it eligible to hold stablecoin reserves. The company said IQMM invests only in short-term U.S. Treasuries and is built for principal preservation and price stability. ProShares says it built IQMM for stablecoin treasuries. Michael L. Sapir, CEO of ProShares, said the fund was designed to serve institutional and crypto-linked demand. "We believe that IQMM will be an attractive cash management alternative for institutional investors, including stablecoin treasuries, as well as financial professionals and individual investors," Michael said. Michael added that the structure goes beyond standard money market requirements. "IQMM reflects ProShares' continued commitment to building innovative products for evolving markets," Michael said. "The fund offers a more conservative approach to cash management than is required by standard money market rules, with all the known benefits and convenience of an ETF." ProShares said the portfolio holds only short-term U.S. government debt and does not include corporate credit exposure, as the focus remains on safety of principal while offering intraday liquidity through exchange trading. Trump family calls its stablecoin USD1 an upgraded dollar. Meanwhile, President Donald Trump's family is also working on its own dollar-linked crypto product. The U.S. dollar was created in 1792, when the federal government established control over currency issuance and since then, presidents have generally repeated a "strong dollar" policy and left currency issuance in federal hands. That pattern changed last March when a company partly owned by President Donald Trump and his family began marketing a cryptocurrency called USD1. The stablecoin is designed to track the value of the U.S. dollar, similar to how the original dollar was pegged to the Spanish silver dollar in the late 18th century. World Liberty Financial, the Trump-linked firm behind USD1, markets the token on its website as "The Dollar. Upgraded." and describes it as "still the US dollar, but for a new era." Reporters questioned why a dollar-linked product would be run by the president's family rather than the U.S. Treasury, and the network interviewed Don and Eric at a crypto event held near Mar-a-Lago's pool. Don said, "This is actually going to preserve dollar hegemony." He added, "There's crypto companies that are the top five buyers in the world. That's going to actually stabilize the US dollar and do all the things that we need to." Eric Trump said, "We're going to lead the way as Americans. You're going to leave that to whom, JPMorgan, to do? You're going to leave that to the federal government to do?" Eric criticized large banks directly. "Do you think big banks will actually do this?" Eric said. "It's been 50 years, where bankers are working six hours a day. They have a two-hour lunch break. They're typically out of the office at four o'clock in the afternoon." The brothers tied their entry into crypto to events following the Jan. 6, 2021, Capitol riot, when parts of the banking system declined to continue business relationships with the Trump family. Don said, "We didn't get into crypto because we were on the leading edge. We got into it out of necessity. They basically forced us into it." Eric told reporters, "We were the most cancelled people in the world in 2020, 2021, and it's really great to almost have this retribution where all of a sudden we start pushing an agenda." "Our agenda was to modernize finance, to allow that to never ever, ever happen to anybody again," Eric said. Don described the traditional banking system as a "Ponzi scheme" and said banks "created this monster" when accounts were closed over political affiliations. Eric recalled that during the period after his father left the White House, financial institutions cut off accounts linked to the family's commercial properties and golf courses. "These are commercial buildings, residential buildings, golf courses around the world," Eric said. "They were pulling these accounts from us like we were absolute dogs. We couldn't pay our vendors, we couldn't pay our employees. And so we said, listen, there has to be a better way." Eric pointed to the launch of Truth Social after social media platforms banned President Trump and said the family responded similarly in finance after banks reduced ties. Read Disclaimer

ProShares rolls out new ETF built for stablecoin treasuries under U.S. Rules. ProShares launches an ETF built for stablecoin treasuries under U.S. reserve rules, using short-term Treasuries that meet GENIUS Act limits. By Kelvin Munene February 19, 2026 4 Mins Read Tl;dr. * IQMM invests only in U.S. Treasuries maturing within 93 days under GENIUS Act rules. * Stablecoin supply may reach $2T-$4T by 2030, analysts say. * ProShares targets issuers needing safe and liquid reserves for daily redemptions. * Trump family promotes USD1 stablecoin as demand for regulated reserves increases. ProShares has introduced a new money market exchange-traded fund designed to meet the strict reserve rules for dollar-backed stablecoins in the United States. The launch of the ProShares GENIUS Money Market ETF, known as IQMM, reflects growing demand for highly liquid instruments that comply with the GENIUS Act. The law requires stablecoin issuers to hold reserves backed by safe assets, including short-term U.S. government debt. The stablecoin market is expanding, and regulators now expect issuers to maintain strict liquidity standards. ProShares built IQMM to match those rules and give issuers a clear option for short-duration assets. Market growth is drawing institutional attention, and new reserve tools are becoming more common as stablecoins gain wider use. IQMM targets stablecoin reserve requirements. IQMM invests only in cash and U.S. Treasury bills with maturities of 93 days or less. This matches the GENIUS Act's requirement that reserves remain liquid and risk-controlled. The structure aims to help issuers meet daily redemption needs without selling longer-dated securities during volatile periods. ProShares CEO Michael L. Sapir said IQMM was created to serve institutional demand, including stablecoin treasuries and large financial firms. He said the fund offers a conservative approach to cash management while maintaining the convenience of an ETF. The company added that IQMM avoids corporate credit exposure and focuses only on government paper. The fund provides intraday liquidity through exchange trading and uses same-day settlement features. ProShares said these mechanics can help issuers move reserve assets with greater speed. The design also allows weekly income payouts, which may appeal to institutional cash managers using regulated instruments. Stablecoin market growth drives reserve innovation. The stablecoin market currently sits just under $300 billion in circulation. Policymakers and analysts expect rapid expansion over the next several years. Treasury Secretary Scott Bessent has said the market could reach $2 trillion by 2028. He later suggested it may approach $3 trillion by 2030 as adoption increases. Wall Street forecasts show wide expectations. Citi issued a base projection of $1.9 trillion by 2030 and outlined a higher scenario of $4 trillion. Standard Chartered has issued a $2 trillion estimate and warned that as much as $500 billion may move out of the U.S. banking system and into stablecoins. IQMM was built for this environment, where regulated structures are becoming central to market operations. Stablecoin issuers must now demonstrate that reserves are held in compliant, liquid instruments. ProShares said IQMM is shaped to meet those needs with clear alignment to federal rules. Trump-Linked USD1 stablecoin draws new attention. The launch of IQMM comes as the Trump family promotes its own dollar-pegged stablecoin, USD1. The token is issued by World Liberty Financial and is marketed as an upgraded version of the U.S. dollar. It is designed to track the dollar's value while using blockchain rails instead of traditional settlement tools. Don and Eric Trump have said USD1 could help preserve the dollar's global role as digital money expands. They pointed to rising demand for regulated stablecoins and said private issuers may help modernize U.S. financial infrastructure. They also noted that stablecoin issuers are now among the world's largest buyers of U.S. Treasury bills. The Trump family said they entered the market after banks reduced ties with several of their businesses. They argued that blockchain tools can offer more direct control of financial access and reduce reliance on traditional banking networks. Kelvin Munene is a crypto and finance journalist with over 5 years of experience in market analysis and expert commentary. He holds a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University and is known for meticulous research in cryptocurrency, blockchain, and financial markets. His work has been featured in top publications including Coingape, Cryptobasic, MetaNews, Coinedition, and Analytics Insight. Kelvin specializes in uncovering emerging crypto trends and delivering data-driven analyses to help readers make informed decisions. Outside of work, he enjoys chess, traveling, and exploring new adventures. February 19, 2026