Coinbase Invests Undisclosed Amount in ProShares GENIUS Money Market ETF IQMM

Coinbase announced Tuesday that it made an undisclosed investment in ProShares’ GENIUS Money Market ETF (IQMM), a fund designed to hold assets that qualify as reserves for payment stablecoins under the GENIUS Act.

“Coinbase invested in Proshares’ GENIUS Money Market ETF as stablecoin reserve standards evolve”

Bitcoin News

The GENIUS Act requires stablecoin issuers to back their tokens with highly liquid assets, including cash, bank deposits and short-term US Treasury securities, and IQMM invests exclusively in short-term US Treasury securities and cash-equivalent instruments with maturities of 93 days or less.

Bitcoin News

Coinbase said the investment aligns with its growing stablecoin business and cash-management operations, and it framed the move as part of expanding reserve-management tools for stablecoins.

ProShares launched IQMM in February, and Coinbase’s investment places it deeper into the “reserve” layer of stablecoin infrastructure as lawmakers debate broader reforms to crypto market structure.

The Block reported that the fund has $22 billion in assets under management and is structured to hold assets that meet legal reserve requirements for dollar-backed stablecoins in the U.S.

The investment comes as the GENIUS Act formalizes reserve standards for payment stablecoins, with the law requiring one-to-one backing by highly liquid assets such as Treasurys or cash.

Coinbase’s chief policy officer, Faryar Shirzad, called the CLARITY Act the “biggest financial regulatory bill” since Dodd-Frank, as the Digital Asset Market Clarity (CLARITY) Act would establish rules governing digital asset markets and define the roles of federal regulators.

Blockonomi

In the same policy debate, White House crypto adviser Patrick Witt said administration officials were targeting the period around the July 4 Independence Day holiday to advance crypto market-structure legislation.

The TradingView report said the GENIUS Act passed in June 2025, while the House passed the bill on July 17, 2025 and President Donald Trump signed it into law on July 18, 2025.

TradingView also noted that lawmakers were debating whether issuers should be allowed to pay interest on stablecoin holdings, with the bill advancing through the Senate Banking Committee last month.

Coinbase positioned IQMM as reserve infrastructure that supports stablecoin scaling, saying “IQMM is built around a simple idea: as stablecoins scale, issuers need reserve tools built for this market.”

“Coinbase Invests in ProShares Money Market ETF to Expand Stablecoin Reserve Infrastructure Summary - Coinbase said it will invest in ProShares' IQMM money market ETF to strengthen stablecoin reserve management infrastructure”

bloomingbit

The Block reported that Coinbase said it is “supporting tools that can help stablecoins scale responsibly,” and it tied the ETF to a “full-stack stablecoin payments solution” rather than only payments and distribution.

ProShares’ fact sheet described IQMM as the first money market ETF designed to meet GENIUS Act requirements, and Bitcoin News said it carried a 3.48% 30-day SEC yield as of March 31, 2026 with a 0.15% net expense ratio.

Coinbase did not disclose the amount it is investing in the fund, but Blockonomi said COIN shares declined 4.43% after the announcement, closing at $174.52 and falling $8.09.

Separately, Crypto Briefing said Charles Schwab introduced 24/7 trading for select crypto futures on its thinkorswim platforms, enabling near-continuous access to Bitcoin, Ether, Solana, and Ripple, while targeting a 2027 rollout of crypto spot trading capabilities for advisors.