Coinbase Just Picked a Very Specific ETF to Back Its Stablecoin Reserves This isn't your typical Treasury bond move. #Coinbase just invested in a ProShares ETF specifically designed for stablecoin reserves. The ETF holds ultra-short-term Treasury securities. Think 0-3 month maturities - the safest, most liquid government debt you can buy. This is part of how Coinbase backs USDC, its #stablecoin that's supposed to be worth exactly $1. Every USDC in circulation needs real dollars or equivalents sitting somewhere. ProShares built this ETF explicitly for companies like Coinbase that need to park stablecoin collateral. It's boring. It's safe. And it's exactly what stablecoins need to avoid becoming the next Terra Luna disaster. The infrastructure behind crypto is getting more traditional by the day.