Coinbase's (COIN) asset manager bring its bitcoin (BTC) yield fund onchain with Apex

Coinbase Asset Management (CBAM) is bringing its Bitcoin Yield Fund onchain, creating a tokenized share class available on the Base network. This initiative, in collaboration with $3.5 trillion fund administrator Apex Group, aims to capitalize on the growing trend of tokenization in capital markets. Tokenization seeks to speed up settlement times, reduce costs, and broaden distribution channels, following moves by firms like BlackRock and Fidelity. The fund allows investors to earn compounded returns on their bitcoin holdings through strategies like selling call options and lending. Apex is actively expanding its tokenization efforts, aiming to tokenize $100 billion in funds by June 2027. The tokenized share class uses the ERC-3643 standard, ensuring compliance by linking identity to each wallet and automating transaction approvals. Currently available to non-U.S. investors, CBAM plans to extend this offering to the U.S. market.

(Source：CoinDesk)