Coinbase is bringing its bitcoin yield fund onchain through a partnership with Apex Group, launching a tokenized share class as part of a broader push to modernize fund infrastructure using blockchain technology.
The tokenized fund will be issued on Coinbase’s Base blockchain network and will allow institutional investors to hold compliant, blockchain-based shares of the product, with ownership and transfer rules embedded directly into the tokens.
Apex will act as the transfer agent maintaining records aligned with the fund’s net asset value while enabling onchain compliance through the ERC-3643 token standard which restricts access to approved investors only.
The move comes as asset managers increasingly explore tokenization to improve settlement speed, reduce costs, and expand distribution. Firms such as BlackRock and Franklin Templeton have already launched blockchain-based fund products.
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Coinbase said the bitcoin yield fund is designed to generate returns through strategies such as lending and options, addressing bitcoin’s lack of native yield. The tokenized share class will initially be available to non-U.S. institutional investors, with a U.S. version planned.
Apex, which services more than $3.5 trillion in assets, said it plans to tokenize up to $100 billion in funds by 2027 underscoring growing institutional adoption of blockchain-based financial infrastructure.
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