Coinbase launches Bitcoin yield fund
Coinbase launched a tokenized Bitcoin Yield Fund on Base (its Ethereum L2) targeting 4–8% returns via options and lending and built ERC‑3643 compliance into the product, partnering with Apex Group for institutional scale. The fund sits on Base—so institutional flows into tokenized yield on L2 rails could shift liquidity patterns across Ethereum and derivative markets. (x.com)
Coinbase activated the tokenized share class on March 19, 2026, according to reporting from CoinDesk. (coindesk.com) The new on‑chain share class is being distributed initially to institutional and accredited investors located outside the United States, as reported by Yahoo Finance. (finance.yahoo.com) Apex Group — which says it services roughly $3.5 trillion in assets under administration — will serve as the on‑chain transfer agent for the tokenized share class, per Apex’s announcement and Finextra coverage. (apexgroup.com) Technical safeguards for the tokenized shares include embedded investor verification that will reject transfers from wallets that haven’t completed onboarding and will record ownership natively on the chain, per Blockonomi and Yahoo Finance. (blockonomi.com) Coinbase first launched the offshore bitcoin‑yield vehicle on May 1, 2025, and later introduced a U.S. accredited‑investor version on October 15, 2025, according to Coinbase’s own blog posts. (coinbase.com) Apex says the tokenized share class is structured to interact with compatible custody and platform infrastructure, and the Layer‑2 network chosen had amassed more than $5 billion in total value locked while operating with a centralized sequencer, per Apex and Yahoo Finance. (apexgroup.com)
