Coinbase Backs IQMM ETF as Stablecoin Rules Take Shape

Cointelegraph Staff

(08:09 PM UTC)

1 min read

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…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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