Bloomberg: Coinbase to Launch Bitcoin Yield Fund for Institutional Investors

On April 28th, according to Bloomberg, Coinbase Asset Management is about to launch a new fund aimed at bringing regular returns to clients' Bitcoin holdings. This product, called Coinbase Bitcoin Yield Fund, is scheduled to launch on May 1st with the goal of achieving an annualized net return rate of 4% to 8%, and the returns will be distributed in the form of Bitcoin. This fund is only open to non US institutional investors.