Source: Cointelegraph
Original: “Coinbase to Launch Yield-Bearing Bitcoin (BTC) Fund for Institutions”
The globally third-ranked cryptocurrency exchange Coinbase will launch the Coinbase Bitcoin Yield Fund on May 1, aimed at providing Bitcoin exposure for institutional investors outside the United States.
According to a blog post released by Coinbase on April 28, the fund aims to deliver an annualized net return of 4% to 8% on Bitcoin holdings.
Coinbase stated in the announcement, “In response to the growing institutional demand for Bitcoin yield, the Coinbase Asset Management team is pleased to launch the Coinbase Bitcoin Yield Fund (CBYF).”
The fund is supported by multiple investors, including Aspen Digital, a digital asset management company based in Abu Dhabi and regulated by the Financial Services Regulatory Authority (FSRA).
The fund will generate returns through a cash-and-carry strategy, which utilizes the price difference between spot Bitcoin and derivatives to create yield.
Unlike Ethereum (ETH) and Solana (SOL), Bitcoin holders cannot earn passive income through staking—this fund is designed to fill that gap. The announcement noted, “The emergence of the Bitcoin Yield Fund is to address this limitation, but these funds typically require institutional allocators to take on significant investment and operational risks.”
The new fund aims to reduce the investment and operational risks typically faced by Bitcoin yield products, and Coinbase stated that this will better align with the risk preferences of institutional investors.
Bitcoin momentum is primarily driven by institutional interest
Coinbase indicated that the reason for launching the fund is the growing institutional adoption of cryptocurrencies, which may also be one of the reasons for the significant rebound in Bitcoin prices over the past week.
According to data from Farside Investors, as of the week ending April 28, Bitcoin rose over 9%, benefiting from ETF inflows, with net inflows exceeding $3 billion that week, marking the second-highest record in history.
Ryan Lee, Chief Analyst at Bitget Research, stated in an interview with Cointelegraph that Bitcoin's rise to $94,000 is mainly due to “ETF inflows and corporate purchases,” while retail investor interest remains lagging.
He added, “If Bitcoin breaks through $100,000, driven by media hype and FOMO (fear of missing out), retail investor interest may surge. Watch the resistance level in the $94,000–$95,000 range to see if retail funds re-enter the market.”
On April 21, BitMEX co-founder Arthur Hayes predicted that this might be the last opportunity to buy Bitcoin below $100,000, as the upcoming U.S. Treasury buyback operations could become a significant catalyst for the next major surge in Bitcoin prices.
Related: NYDIG: Bitcoin (BTC) Demonstrates “Store of Value” Attributes Amid Trump Policy Chaos
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