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Fidelity Rolls out GENIUS Act Aligned Stablecoin Reserve Fund With 0.25% Fee
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Fidelity has launched a government money market fund designed for stablecoin issuers managing reserve assets under the GENIUS Act.
Key facts
- State Street Investment Management launched a dedicated money market fund for stablecoin issuers on June 8, 2026, becoming the fourth…
- The Fidelity Reserves Digital Fund, which trades under the ticker FYM, began operations on June 15
- The fund aims to maintain a stable net asset value of $1 per share
- Earlier this week, State Street introduced its own GENIUS-aligned money market fund for stablecoin reserves
Summary
Fidelity launched FYMon June 15, a fund for stablecoin issuers under the GENIUS Act. FYM’s 0.25% fee adds competition as Fidelity targets the $315B stablecoin market. Fidelity joins State Street and Blackrock as reserve demand grows toward 2030. Fidelity Investments has launched a government money market fund aimed at stablecoin issuers, adding another major Wall Street name to the race to manage reserves behind digital dollars.