Coinbase Asset Management has introduced a new way for accredited US investors to put their Bitcoin to work. It has announced the rollout of the Coinbase US Bitcoin Yield Fund (USCBYF), a brand-new fund designed to deliver Bitcoin’s performance plus an additional BTC-denominated yield.
This fund finally opens a clear, regulated path for institutions and high-net-worth investors who want more than just simple price exposure to Bitcoin. Looking ahead, Coinbase also expects the fund to be available in select retirement accounts in 2026 through IRA integration.
Read on to learn about the details of the fund and how it could be the moment Bitcoin yield finally goes mainstream for smart money investors in the US.
Growing Demand for Bitcoin Yield Drives Coinbase’s Move into the US Market
Demand for Bitcoin yield has grown as BTC matured into a true store-of-value asset held for the long haul. This is one of the reasons why Coinbase first tested the concept offshore with its Bitcoin Yield Fund for non-US clients, launched in May.
And now that interest from American investors is increasing, USCBYF is bringing the same “Bitcoin + yield” idea within the US regulatory framework. This has unlocked realistic opportunities to explore Bitcoin lending and basis trading through a regulated model.
What Investors Should Know About the Coinbase Bitcoin Yield Fund
Below is a closer look at some of the fund’s most important details:
- Audience: The fund targets accredited US investors and is rolling out soon.
- How to subscribe: Investors can contribute to this fund with BTC, or use USD or USDC. That flexibility lets allocators plug in from treasury, stablecoin reserves, or even existing Bitcoin holdings.
- Return profile: The fund seeks to match Bitcoin’s price, using the CME CF Bitcoin Reference Rate (BRR), plus an additional Bitcoin yield generated by institutional strategies. The BRR is the industry’s once-a-day benchmark that aggregates prices across major BTC-USD venues.
- Availability in retirement accounts: Coinbase plans to enable access via select IRAs in 2026, expanding the ways investors can hold productive BTC exposure in tax-favorable wrappers.
The iTrustCapital Coinbase Partnership Expands Access to Bitcoin Yield Fund
Coinbase USCBYF is slated to be available inside select IRAs in 2026 through a partnership with iTrustCapital, a leading US digital asset IRA technology provider.
iTrustCapital reports more than $15 billion in executed crypto transactions and over 11,000 positive reviews, which already shows its operational scale. The integration opens the door for Bitcoin yield strategies to compound tax-deferred within familiar retirement vehicles.
Regulatory Oversight and Governance
Two key differentiators of the fund are its structure and the oversight of its strategy. For perspective, Coinbase Asset Management, LLC is an SEC-registered investment adviser, an NFA member, and a CFTC-registered commodity pool operator and commodity trading adviser.
Moreover, its Cayman affiliate holds a CIMA asset-management license. These credentials matter because institutional investors typically require fiduciary standards and transparent governance. They also set this product apart from the unregulated investment product lineups in the Web3 space.
How the Coinbase US Bitcoin Yield Fund Generates Returns
USCBYF uses two familiar institutional playbooks designed to add conservative, repeatable return streams.
- BTC private credit lending: The manager lends a portion of the fund’s Bitcoin to vetted institutional borrowers through negotiated credit agreements. Borrowers pay interest in exchange for access to BTC they use for trading, hedging, or operational needs. This resembles fixed-income interests, but settled in Bitcoin terms rather than dollars.
- Basis trading: The “basis” is the spread between spot Bitcoin and exchange-traded BTC futures, like those on CME. When futures trade at a premium, the fund can buy spot and short futures to lock in that spread. The aim is to harvest a consistent edge that’s independent mainly of day-to-day price swings.
Together, these crypto yield investment fund strategies aim for a positive excess return in BTC terms while preserving the asset investors actually want: Bitcoin. Coinbase also reiterates that these rates of return depend on market conditions and implementation, and are not guaranteed.
Coinbase Fund Marks a New Phase in Institutional Crypto Investment
The launch of USCBYF fits Coinbase’s broader strategy to merge crypto with traditional finance. The fund effectively formalizes two well-known market practices within a compliant, auditable wrapper.
From a long-term perspective, access to retirement accounts could help mainstream Bitcoin yield in wealth management. Many shrewd investment advisors already view it as a complement to spot exposure or ETF holdings.
Interested in USCBYF? Here’s How to Get Started
If you want to invest in USCBYF, here’s a brief look at how to get started:
- Confirm accreditation: This Bitcoin yield strategy is limited to accredited investor crypto funds or high-net-worth US investors under SEC rules.
- Engage Coinbase Institutional: Complete onboarding and compliance checks through Coinbase Asset Management.
- Subscribe in USD, BTC, or USDC: Choose your funding method by opting for either USD, BTC, or USDC. Investors should carefully review fees and offering documents before allocating.
- Plan for IRA access: You can also choose to add USCBYF if tax-deferred compounding is something you’re seeking. It’s worth recalling here that the iTrustCapital integration is targeted for 2026.
Bitcoin Yields for Institutional Investors, Welcome Bonus for New Retail Users
Separately from USCBYF, Coinbase is currently running a promotion that allows eligible new customers to earn up to €150 on making their first trade. The bonus will be credited to eligible users immediately after making their transaction, subject to regional availability.
Open to all investors, this timely incentive is available for a limited time only and may end at Coinbase’s discretion.
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