Fidelity launches the Reserves Digital Fund on June 19, a GENIUS Act-aligned money market fund for stablecoin issuers targeting $1.00 NAV and 0.18% expense ratio.
- Fidelity has launched the Reserves Digital Fund, a money market fund specifically designed for stablecoin issuers to hold their backing reserves in GENIUS Act-compliant assets.
- The fund targets a stable $1.00 NAV with a competitive 0.18% expense ratio, undercutting typical institutional money market fund fees and launching shortly after State Street's similar offering.
- This launch signifies a competitive institutional race in stablecoin reserve management, driven by the GENIUS Act, and expands Fidelity's digital asset services to include reserve management for stablecoin issuers.
Topics: Asset types, Institutional adoption, Legal regulatory, Stablecoins digital cash, Asset manager initiatives, Securities law classification
Tags: #fidelityreservesdigitalfund #stablecoinissuers #geniusact #moneymarketfund #reservemanagement #institutionalinfrastructure #assetmanagement #nav #expenseratio #statestreetsscxx
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