On June 19, Fidelity Investments launched a new government money market fund designed as a reserve storage tool for stablecoin issuing institutions. The fund, named Fidelity Digital Reserve Fund (Ticker: FYMXX), aims to achieve current income while ensuring principal safety and maintaining high liquidity, as stated in its prospectus. The fund shares are exclusively available to institutional investors, including various stablecoin issuers, and the product was officially established on June 15. The prospectus specifies: 'The fund shares are expected to be primarily held by one or more stablecoin issuers as part or all of their reserve assets for issuing stablecoins to users.' This new fund will only invest in compliant reserve assets permitted for stablecoin issuers under the GENIUS Act, including U.S. Treasury bills, medium-term notes, long-term government bonds, cash, overnight repurchase agreements, and other government money market funds that meet stablecoin regulatory requirements. The minimum initial subscription amount for the fund is set at $1 million, although the fund company can independently decide to waive or reduce this threshold. The product aims to maintain a stable net asset value of $1 per share, with an annual management fee rate of 0.25%.