Fidelity Investments launched the Fidelity Reserves Digital Fund on June 18, a money market fund built for stablecoin issuers who need somewhere safe, compliant, and boring to park their reserves.
The fund targets a net asset value of $1.00 per share and carries a net expense ratio of 0.18%, which positions it competitively against similar products from rivals like BlackRock, State Street, Goldman Sachs, and JPMorgan.
What’s actually in the fund
The Fidelity Reserves Digital Fund invests in short-term US Treasury bills, notes, and bonds with maturities of 93 days or less, along with cash, overnight Treasury-backed repurchase agreements, and qualifying government money market funds.
This investment profile is deliberately designed to meet the requirements of the GENIUS Act, the stablecoin regulatory framework that mandates stablecoin reserves be held in high-quality, liquid assets.
