Defiance ETFs has filed an ETF application compliant with the GENIUS Act.

James Seyffart, ETF analyst at Bloomberg, revealed that Defiance ETFs has filed an application for a new money market ETF compliant with the GENIUS Act. The Act establishes a federal regulatory framework for reserve requirements applicable to payment stablecoin issuers in the U.S., imposing more conservative standards on underlying assets than traditional money market funds. The fund’s investment strategy is designed to meet the qualified reserve asset requirements stipulated under the U.S. stablecoin legislation.