iShares Prime Money Market ETF

PMMF

Market cap $328M

Multiple factors, including questions around interest rates, persistent inflationary pressures, and global volatility, are shaping the fixed income landscape in 2025. As investors seek ways to navigate uncertainty and maintain liquidity during periods of market stress, several key product launches have emerged in fixed income.

PMMF is a newly launched ETF designed to offer intra-day trading liquidity for money market fund-like investments, adhering to SEC Rule 2a-7. This distinguishes it from traditional money market funds that operate with end-of-day NAV calculations. While aiming for high current income with liquidity and principal stability, PMMF's holdings, which include bank deposits and tri-party repos, introduce some counterparty credit risk, unlike pure T-Bill ETFs.

Money market mutual funds have long been a popular cash management tool for investors looking to park cash short-term, while preserving capital and picking up some return and yield. Now, there are money market ETFs for that, too.

Stocks are holding firm near all-time highs. But Wall Street can't ignore the record amounts of cash still parked on the sidelines.

On Wednesday, BlackRock bolstered its expansive fund library with the release of two new funds. Each of these funds offers a different take on a money market fund strategy.

NEW YORK--(BUSINESS WIRE)--Today, BlackRock expanded the way investors can manage their cash with the launch of two money market ETFs, including the industry's first prime money market ETF. The iShares Money Market ETFs - the iShares Prime Money Market ETF (NYSE: PMMF) and the iShares Government Money Market ETF (NYSE: GMMF) - combine the quality and liquidity of regulated money market funds with the transparency and efficiency of the ETF structure.