Defiance ETFs have submitted applications for money market ETFs that comply with the GENIUS Act.

CoinFeed reported on May 21 that Bloomberg ETF analyst James Seyffart disclosed in an article on the X platform that asset management company Defiance ETFs has submitted an application for a money market ETF that complies with the GENIUS Act. The fund's investment strategy aims to meet the GENIUS Act's requirements for eligible reserve assets that stablecoin issuers can hold, thereby facilitating investment by stablecoin issuers.