Coinbase Brings Bitcoin Yield Fund to Base Blockchain with Apex Group
Coinbase and Apex Group have teamed up to bring a Bitcoin Yield Fund to the Base blockchain.
The fund's tokenized share class uses the ERC-3643 permissioned token standard, which restricts access to verified institutional and accredited investors.
Apex serves as the on-chain transfer agent for the fund, managing token ownership records, enforcing transfer and compliance rules, and maintaining a full transaction history on Base.
The Bitcoin Yield Fund targets annual returns of 4% to 8% in Bitcoin terms for non-U.S. investors, addressing the absence of native yield in Bitcoin due to its proof-of-work mechanism.
Coinbase originally launched the fund in April and a U.S. version in October, with plans to launch a U.S.-facing tokenized share class in the future.