Fidelity Investments has launched the Fidelity Reserves Digital Fund (FYMXX), a money market fund aimed at stablecoin issuers and institutional investors. The fund will invest exclusively in assets permitted for stablecoin reserves under the GENIUS Act, according to The Block.
As outlined in the prospectus, the fund may invest in U.S. Treasury bills with maturities of up to 93 days, cash, overnight repos secured by U.S. Treasuries, and other government money market funds.