Coinbase Asset Management is launching a new fund that aims to deliver a regular yield on a customer’s Bitcoin holdings.
The Coinbase Bitcoin Yield Fund, which is set to launch on May 1, will seek a 4% to 8% annualized net return, delivered in Bitcoin, and will only be open to non-US institutional investors.
The fund will employ a version of the so-called basis trade that is common in other financial realms. In the crypto version of the strategy, known as the cash-and-carry trade, traders look to take advantage of discrepancies between the price of Bitcoin and the price of ...
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