VanEck Files Tokenized Government Money Market Fund for Stablecoin Reserves

VanEck has filed for the VanEck Automated U.S. Government Liquidity Trust, a government money market fund designed primarily to serve as a reserve asset for payment stablecoin issuers under the GENIUS Act. The fund would invest only in eligible reserve assets, including cash, U.S. Treasury securities with maturities of 93 days or less, and overnight Treasury-backed repurchase agreements. It will seek to maintain a stable $1.00 NAV and qualify as a government money market fund under Rule 2a-7. The fund will not invest in stablecoins or other digital assets. Its shares are expected to be tokenized on Ethereum, with ownership recorded through a blockchain-integrated transfer-agent system combining on-chain wallet records with off-chain investor identification and compliance data. Only approved wallets will be able to hold or transfer shares.