Fidelity Launches Digital Fund for Stablecoin Reserve Assets With $1 Million Minimum

Fidelity Investments has launched the Fidelity Reserves Digital Fund for institutional investors, including stablecoin issuers, with a $1 million minimum initial investment. According to NS3.AI, the fund launched on June 15 and invests exclusively in eligible reserve assets permitted under the GENIUS Act. The fund aims to maintain a $1.00 net asset value and charges a 0.25% management fee. Separately, DefiLlama data put total stablecoin market capitalization around $315 billion as of today.