ProShares stablecoin-related ETF reaches $17 billion in trading volume on its first day

AIcoin2026/02/22 15:04

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ProShares has launched the IQMM money market ETF, which complies with the stablecoin reserve requirements under the U.S. GENIUS Act, with a first-day trading volume exceeding $17 billion. Analysts had speculated that major stablecoin issuers such as Circle might transfer large amounts of reserve assets into this ETF, but data suggests that the trading volume may originate from internal fund flows. Markus Thielen of 10x Research stated that IQMM could attract demand from the $300 billion stablecoin industry, especially in the context of strengthened regulation.

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According to data from the US Department of the Treasury, in the 12 months ending July this year, overseas investors made net purchases of US stocks totaling $942 billion, marking the highest rolling 12-month total since records began in 1985. The net purchases in the second quarter alone reached $426 billion, setting a new single-quarter record. Meanwhile, overseas demand for US Treasuries has noticeably cooled, with purchase volumes falling significantly. As a result, the US is facing higher costs in government debt financing.

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