Coinbase to launch yield-bearing Bitcoin fund for institutions
Coinbase Asset Management will launch the Coinbase Bitcoin Yield Fund on May 1, targeting a net annual return of 4%-8% for institutional investors outside the U.S. It will implement a cash-and-carry strategy, arbitraging between spot and derivatives markets, to generate yield on Bitcoin holdings. The fund is backed by investors like Abu Dhabi's Aspen Digital and aims to reduce operational and investment risks associated with Bitcoin yield products.