[ProShares Stablecoin Reserve ETF Sets Record with $17 Billion Trading Volume on First Day] Deep Tide TechFlow reports that on February 21, according to The Block, ProShares' newly launched GENIUS Money Market ETF (Ticker: IQMM) achieved a historic $17 billion trading volume on its first trading day, far surpassing the $1 billion first-day performance of BlackRock's Bitcoin ETF (IBIT) launched in January 2024. This ETF is specifically designed to hold assets that comply with U.S. stablecoin statutory reserve requirements, fully adhering to the GENIUS Act signed last July. The Act mandates that stablecoin issuers must back their reserves 1:1 with safe, highly liquid assets such as U.S. Treasury bonds. Analysts speculate that a significant portion of the funds may have come from stablecoin issuer Circle.