Coinbase Asset Management Launches U.S. Bitcoin Yield Fund (USCBYF)
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Coinbase Asset Management has launched the Coinbase U.S. Bitcoin Yield Fund (USCBYF), a new institutional-grade crypto investment product designed for U.S. accredited investors. The fund offers exposure to Bitcoin’s price performance, along with additional yield, through strategies such as lending and basis trading.
By introducing USCBYF, Coinbase expands its lineup of regulated digital asset products, allowing investors to earn yield on their Bitcoin holdings within a compliant, transparent structure. The launch of the Coinbase Bitcoin Yield Fund reflects Coinbase’s long-term goal of combining traditional finance standards with innovative crypto opportunities.
Meeting the Growing Demand for Bitcoin Yield in the U.S.
Bitcoin’s role as a store of value and inflation hedge has attracted growing interest from institutions and high-net-worth investors. As more investors denominate their savings in BTC, many are seeking ways to generate yield on those holdings.
Earlier in 2025, Coinbase launched an offshore Bitcoin Yield Fund for non-U.S. investors, which received strong institutional demand. Following that success, U.S. investors requested a domestic version that aligns with U.S. securities rules.
The new Coinbase USCBYF answers that call, offering accredited investors the same opportunity to combine Bitcoin’s potential upside with a consistent yield.
More About the U.S Coinbase Bitcoin Yield Fund
Here are more integral details about the Coinbase Yield Fund:
Eligibility: The fund is open exclusively to U.S. accredited investors, ensuring compliance with institutional standards and obligations. Access will open in the coming weeks through Coinbase Asset Management’s investor onboarding portal.
Subscription Options: Investors can subscribe using Bitcoin, USD, or USDC stablecoin, gaining exposure to BTC’s market performance, tracked by the CME Bitcoin Reference Rate (BRR).
Yield Generation: Coinbase Asset Management will generate yield through two primary methods, Bitcoin lending to vetted institutional borrowers and basis trading, which captures spreads between Bitcoin’s spot and futures markets.
Availability: Coinbase also plans to make the accredited investor crypto fund available through certain tax-advantaged retirement accounts by 2026, allowing investors to grow Bitcoin yields within self-directed IRAs.
Strategic Partnership with iTrustCapital for Retirement Access
To expand access, Coinbase Asset Management has partnered with iTrustCapital, the largest U.S. provider of self-directed digital asset IRAs. iTrustCapital has facilitated more than $15 billion in transactions and serves nearly 100,000 users nationwide.
This partnership will allow accredited investors to hold USCBYF units within tax-deferred IRA accounts, letting Bitcoin gains and yield compound over time without immediate tax implications. The integration, which is set to go live by 2026, marks a first-of-its-kind bridge between crypto yield investing and traditional retirement planning.
Setting a New Standard for Compliance and Trust
Coinbase Asset Management (CBAM), a wholly-owned subsidiary of Coinbase Global, operates under rigorous U.S. compliance standards. It is registered with the SEC as an investment adviser and with the CFTC as both a Commodity Pool Operator and Commodity Trading Advisor, and it is also a member of the National Futures Association.
These credentials ensure that USCBYF adheres to institutional oversight and fiduciary transparency, distinguishing it from unregulated yield products that have appeared elsewhere in the market. Coinbase’s emphasis on compliance, governance, and risk management provides accredited investors with confidence that the fund operates within well-defined legal and operational safeguards.
The fund’s creation underscores Coinbase’s belief that innovation in crypto asset management must coexist with accountability, offering the performance potential of Bitcoin while maintaining institutional reliability and investor protection.
How the Fund Generates Yield
USCBYF’s strategy centers on two complementary yield-generation techniques designed to enhance Bitcoin’s total return while managing risk:
Bitcoin Lending: Coinbase lends Bitcoin from the fund to creditworthy institutional borrowers, earning interest in BTC. This practice is similar to securities lending in traditional finance and generates a predictable stream of yield without requiring Bitcoin’s price to rise.
2. Basis Trading: The fund simultaneously holds Bitcoin and shorts Bitcoin futures contracts to capture the difference (also known as the Basis) between spot and futures prices. This market-neutral strategy locks in incremental profit from pricing spreads, delivering yield even in sideways markets.
By blending these approaches, Coinbase aims to outperform passive Bitcoin exposure. While the fund does not guarantee returns, its structure is designed to produce risk-adjusted yield while maintaining full transparency.
All yield targets are hypothetical, and actual results will vary based on borrower credit, futures pricing, and market conditions.
Opening New Doors for Institutional Bitcoin Investors
The launch of USCBYF fits within Coinbase’s mission to make regulated crypto yield opportunities available to a wider range of investors. Following the success of its offshore version, this domestic fund extends those benefits to U.S. accredited clients in a fully compliant environment.
Coinbase continues to bridge traditional finance and digital assets by giving investors access to sophisticated Bitcoin strategies. For institutions previously hesitant about unregulated crypto platforms, Coinbase provides a familiar framework built on security, custody, and transparency.
This initiative also highlights how Coinbase is positioning itself at the intersection of institutional investment and digital asset innovation, offering products that mirror established financial instruments like bond funds or managed futures, but powered by Bitcoin.
How to Participate in the U.S. Bitcoin Yield Fund
Interested investors can join the fund by following this simple process:
Verification: Confirm accredited status under U.S. securities law by providing required documentation of income or assets.
Subscribe and Fund: Complete the subscription agreement and fund participation using Bitcoin, USD, or USDC.
Review Documentation: Investors receive full offering materials detailing the strategy, risks, and fees, allowing informed participation.
Optional IRA Access: Beginning in 2026, investors may hold their USCBYF positions through iTrustCapital self-directed IRAs for tax-advantaged growth.
Join Conbase and Get Upto €150 After Your First Trade
In addition to launching USCBYF for accredited investors, Coinbase is also rewarding new retail users with up to €150 after completing their first trade.
Together with the launch of the U.S. Bitcoin Yield Fund, the promotion underscores Coinbase’s dual approach of delivering regulated institutional products like USCBYF and welcoming new investors through simple and transparent incentives.
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