ProShares' GENIUS Money Market ETF achieved a remarkable $17 billion in trading volume on its first day, setting a new record. The ETF is structured to hold assets that comply with the legal reserve requirements for U.S. dollar-stablecoins, such as U.S. Treasuries. This design aims to assist issuers in managing daily redemption requests without the need to liquidate long-term bonds at a loss during market volatility.