ProShares' GENIUS Money Market ETF Sets Record with $17 Billion Trading Volume on First Day of Trading

BlockBeats News, February 21st, according to The Block, ProShares' GENIUS Money Market ETF set a record with $17 billion in trading volume on its first day of trading. The ETF holds assets that comply with the legal reserve requirements for the US dollar stablecoin, including US Treasury bonds. The fund is designed to help issuers meet daily redemption requests without having to sell long-term bonds at a loss during times of market stress.