Coinbase Launches Bitcoin Yield Fund for U.S. Investors
On October 15, 2025, Coinbase Asset Management launched the Coinbase US Bitcoin Yield Fund, an open-end Bitcoin yield fund for accredited U.S. investors. The fund aims to deliver the Bitcoin benchmark return (BRR) plus additional BTC yield through private credit lending and basis trading strategies. Investors can subscribe in BTC, USD, or USDC, with access opening in the coming weeks. Beginning in 2026, qualified retirement accounts, including tax-deferred IRAs via a partnership with iTrustCapital, will be able to hold the fund. As an SEC-registered investment adviser with CFTC Commodity Pool Operator status and NFA membership, Coinbase offers a regulated avenue for bitcoin holders seeking yield. This Bitcoin yield fund meets rising institutional demand for crypto income products and strengthens Coinbase’s push into the U.S. retirement market.
Bullish
By introducing a regulated Bitcoin yield fund tailored for accredited investors and offering IRA compatibility, Coinbase lowers barriers for institutional and retirement capital to flow into BTC. The fund’s yield strategies—private credit lending and basis trading—address demand for native crypto income, potentially boosting on-chain BTC demand and secondary market activity. In the short term, fund subscriptions in BTC, USD, and USDC could drive price support, while the 2026 IRA integration may sustain long-term inflows. Overall, the fund’s launch signals growing institutional adoption and market maturation, underpinning a bullish outlook for bitcoin.