Coinbase moves Bitcoin Yield Fund to blockchain through Apex partnership
Coinbase Asset Management, together with Apex Group, has launched a tokenized share class of the Coinbase Bitcoin Yield Fund on the Base network. The product is aimed at institutional and accredited investors and highlights how major asset managers are accelerating the shift toward blockchain infrastructure.
According to Apex Group, the fund retains a familiar structure for investors while using digital infrastructure to streamline operations — from accounting to asset distribution — without deviating from existing regulatory requirements.
How the tokenized fund works
The solution is built on the ERC-3643 standard, which embeds compliance rules directly into the token. This means that only pre-approved investors can hold or transfer the asset, and all transactions are automatically subject to predefined restrictions.
Apex Group acts as the transfer agent, maintaining ownership records and aligning them with the fund’s net asset value cycle. Investor onboarding is handled via the Tokeny platform, where each participant must complete identity verification before gaining access.
Apex Group CEO Peter Hughes commented:
“Digital assets are no longer a future ambition, they are becoming the infrastructure of modern fund distribution. The tokenized share class of the Coinbase Bitcoin Yield Fund is a concrete demonstration that institutional-grade compliance and blockchain efficiency are not in conflict.”
Coinbase Asset Management President Anthony Bassili added:
“Tokenized fund infrastructure has finally arrived and is ready to scale. It needs to meet the same regulatory and operational standards investors expect from traditional markets.”
The fund is currently available to investors outside the United States, with an expected yield of 4–8% annually in BTC. A US version may follow at a later stage.
How tokenization is reshaping the fund market
Major asset managers, including BlackRock, Fidelity, and Franklin Templeton, are already exploring similar approaches. The focus is on reducing costs, accelerating settlement times, and enabling round-the-clock access to investments.
Market forecasts underline the scale of the trend: McKinsey estimates tokenized assets could reach $2 trillion by 2030, while BCG and Ripple project up to $19 trillion by 2033. Against this backdrop, Apex plans to tokenize up to $100 billion in funds by 2027.
For investors, these products offer returns not only from Bitcoin price appreciation but also through strategies such as options and lending. More broadly, this signals the emergence of a hybrid financial system where blockchain is gradually integrated into traditional capital markets.
Additional pressure on Coinbase’s business could come from the proposed CLARITY Act in the United States, which aims to limit yield on stablecoins. In this context, expanding into tokenized funds appears not just as a new opportunity, but as a strategic move to offset potential revenue declines.
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