Proshares' GENIUS Money Market ETF (IQMM) launched on NYSE Arca on February 20, 2026, achieving a record-breaking $17 billion in first-day trading volume. This debut surpasses previous ETF records, including the Ishares Bitcoin Trust's $1 billion opening in January 2024. The IQMM ETF, designed to meet the GENIUS Act's reserve standards, invests in short-term U.S. Treasury bills with maturities of 93 days or less. The ETF closed its first trading day with a net asset value of $100.05 and a market price of $100.06, with over 47 million shares traded. The fund's structure offers transparency and intra-day liquidity, appealing to institutional investors managing large cash reserves. The GENIUS Act, signed into law by Donald Trump in July 2025, mandates high-quality liquid reserves for stablecoin issuers, potentially driving institutional interest in the ETF. IQMM's launch highlights the growing intersection of digital assets and traditional finance, with stablecoins already accounting for $300 billion in circulation. However, the fund is not FDIC-insured, and its NAV can fluctuate, posing risks during market stress. The ETF's success may signal a shift in how stablecoin reserves are managed, though its long-term impact remains to be seen.