Key Takeaways:
Fidelity launched FYMXX on June 15, a fund for stablecoin issuers under the GENIUS Act.FYMXX’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.The fund aims to maintain a stable net asset value of $1 per share. It carries a 0.25% management fee and requires a minimum initial investment of $1 million, though Fidelity may waive or lower that amount.
Asset Managers Compete for Stablecoin Reserves
