##  [# New Money Market ETF Draws $2.1B in First Week](/sections/news/new-money-market-etf-draws-21b-first-week) 

 

# New Money Market ETF Draws $2.1B in First Week

 

 

\- The Simplify Government Money Market ETF (SBIL) amassed $2.1 billion in AUM in its first week of trading.  
\- It joins a short list of true money market ETFs launched in the past year.



 

 

 

 

 [![sumit](/sites/default/files/styles/author_image_icon/public/2023-03/Sumit_0.png?itok=SO-7S5SH "sumit")](/authors/sumit-roy) 

[By Sumit Roy ](/authors/sumit-roy)

 Jul 23, 2025

 Edited by: David Tony

 

 

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A new money market ETF just launched, and it's already making waves.

The [**Simplify Government Money Market ETF (SBIL)**](/SBIL) amassed $2.1 billion in assets under management in its first week of trading, a rare feat for a freshly launched fund.

The ETF began trading on July 14 and is part of a small but growing group of money market ETFs built specifically to comply with Rule 2a-7 under the [Investment Company Act of 1940](https://www.sec.gov/investment/laws-and-rules), the same rule that governs traditional money market mutual funds.

Unlike classic money market funds, which are priced once daily and maintain a constant $1 net asset value (NAV), SBIL has a floating NAV and trades intraday like any other ETF. That’s a key benefit for institutional and retail investors alike, allowing them to move in and out of positions throughout the day without waiting for end-of-day pricing.

SBIL charges an expense ratio of 0.15%.

## SBIL Part of a Broader Trend

SBIL’s debut comes amid surging demand for [ultra-short-term bond ETFs](https://www.etf.com/sections/best-etfs/best-ultra-short-term-bond-etf) and cash-like strategies more broadly. While technically labeled a money market ETF, SBIL isn’t radically different from other popular ultra-short Treasury ETFs like the [**iShares 0-3 Month Treasury Bond ETF (SGOV)**](/SGOV) or the [**SPDR Bloomberg 1-3 Month T-Bill ETF (BIL)**](/BIL).

These funds invest in high-quality debt with very short maturities—typically under three months—resulting in minimal interest-rate risk and essentially no credit risk.

While SGOV and BIL hold only Treasurys, money market ETFs like SBIL adhere to 2a-7 requirements, which enforce strict rules around maturity, liquidity and credit quality. In practice, the differences are mostly technical. To investors, they all serve as short-term, cash-like vehicles.

 
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## A Budding Subcategory

SBIL joins a short list of true money market ETFs launched in the past year. The first was the [**Texas Capital Government Money Market ETF (MMKT)**](/MMKT), which debuted in 2024. Since then, [BlackRock Inc. (BLK)](/stock/blk) has entered the space with the [**iShares Government Money Market ETF (GMMF)**](/GMMF) and the [**iShares Prime Money Market ETF (PMMF)**](/PMMF).

SBIL is by far the largest ETF in the money market ETF category, though the aforementioned SGOV and BIL dominate the broader ultra-short-term bond ETF space.

SGOV recently became the first such ETF to cross $50 billion in assets.



 

 

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 [ Sumit Roy Senior ETF Analyst ](/authors/sumit-roy) 

 

 

  Sumit Roy is the senior ETF analyst for etf.com and author of (Don't) Invest Like a Pro. He creates a variety of content for the platform, including…   [View Bio](/authors/sumit-roy)

 



 

 


 Related Topics  [Fixed Income](http://www.etf.com/topics/fixed-income) 

 [Ultra-Short Term](http://www.etf.com/topics/ultra-short-term) 

 [Simplify](http://www.etf.com/topics/simplify) 

 [iShares](http://www.etf.com/topics/ishares)