Laser Digital debuts BDYF, a tokenized Bitcoin fund merging core BTC holdings with yield strategies via arbitrage, lending, and options for institutional investors.
Laser Digital, Nomura’s digital asset arm, has launched the Bitcoin Diversified Yield Fund SP (BDYF), an upgraded version of its 2023 Bitcoin Adoption Fund that was introduced well before the first Bitcoin ETFs. The new vehicle combines long Bitcoin BTC $69 163 24h volatility: 4.2% Market cap: $1.38 T Vol. 24h: $52.10 B exposure with market-neutral income strategies, targeting excess returns on top of Bitcoin performance for accredited investors outside the US.
According to a press release on January 22, the fund is structured as a natively tokenized Cayman fund, with BDYF issuing tokenized shares directly at the primary fund level rather than through feeder vehicles. KAIO serves as the exclusive tokenization provider, while crypto custodian Komainu holds the fund’s assets.
Strategy: Yield on Top of BTC
BDYF seeks to monetize carry-like opportunities across market-neutral arbitrage, lending markets, and options while maintaining a long-only Bitcoin core position. This approach is designed to turn passive BTC holdings into an income-generating allocation without using directional leverage.
“Recent market volatility has shown that yield-bearing, market neutral funds built on calculated DeFi strategies are the natural evolution of crypto asset management. As an early entrant to this space, the launch of Laser Digital’s upgraded Bitcoin fund allows us to maintain our position and capitalise on the next phase of DeFi, while servicing the needs of Bitcoin holders as well as existing and new institutional investors entering the market,” said Jez Mohideen, co-founder and CEO of Laser Digital.
The fund is available only to non-US professional and accredited investors with a minimum subscription of $250,000 or BTC equivalent. The product joins Laser Digital’s actively managed range alongside its Laser Digital Carry Fund (LCF) and Multi-Strategy Fund (MSF).
Laser Digital’s role inside Nomura
Laser Digital was established by Nomura Holdings in 2022 as a dedicated digital asset subsidiary. The company focuses on trading, venture, and asset management. It operates from hubs in Switzerland, Dubai, Abu Dhabi, and Japan, and targets institutional participants in on‑chain finance.
Nomura Group is one of Japan’s largest financial institutions, with more than 100 domestic branches and managing over 100 trillion yen in assets and 162 trillion yen in client wealth management assets. The scale of Nomura’s global wholesale and wealth platforms gives Laser Digital access to a broad institutional client base as demand for regulated crypto yield products expands.
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