Coinbase Asset Management將於5月1日啟動比特幣（BTC）收益基金，針對非美國機構投資者

Coinbase Asset Management正在準備在5月1日啟動Coinbase Bitcoin收益基金，為非美國機構投資者提供一種新的方式來賺取比特幣持有的收益。

Coinbase Asset Management, a subsidiary of the cryptocurrency exchange Coinbase (NASDAQ:COIN), is set to launch the Coinbase Bitcoin Yield Fund on May 1, offering non-U.S. institutional investors a new way to earn yield on their Bitcoin (BTC) holdings.

Coinbase Asset Management是加密貨幣交易所Coinbase（NASDAQ：COIN）的子公司，將於5月1日啟動Coinbase Bitcoin收益基金，為非美國機構投資者提供一種新的方式來賺取其比特幣（BTC）持有的新方法。

As originally reported by Bloomberg, Coinbase Asset Management will launch a new investment product designed to generate yield on Bitcoin holdings. The Coinbase Bitcoin Yield Fund, opening on May 1, will be available exclusively to non-U.S. institutional investors.

正如彭博社（Bloomberg）最初報導的那樣，Coinbase Asset Management將推出一種新的投資產品，旨在為比特幣持有量產生收益。 Coinbase Bitcoin收益基金將於5月1日開放，將僅向非美國機構投資者提供。

The fund’s strategy centers around an investment technique called “basis trading”, which exploits the price difference between BTC spot price and its perps price. During periods of BTC price increase, the gap between the spot price and the perp price can widen significantly, presenting opportunities for profit.

該基金的戰略圍繞一種稱為“基礎交易”的投資技術，該技術利用了BTC現貨價格與其PERPS價格之間的價格差異。在BTC價格上漲期間，現貨價格和PERP價格之間的差距可以大大延長，從而帶來了利潤的機會。

The fund aims to deliver an annualized net return of 4% to 8%, with yields paid out in BTC. However, Coinbase has cautioned that actual returns may vary.

該基金旨在提供4％至8％的年度淨回報，並在BTC中支付收益率。但是，Coinbase警告說，實際收益可能會有所不同。

While basis trading is generally viewed as a relatively low-risk strategy, instances of excessive leverage have led to substantial losses. Coinbase stated that the Bitcoin Yield Fund would utilize modest leverage and prioritize security by storing assets with Coinbase and “other qualified custodians.”

儘管基本交易通常被視為一種相對較低的風險策略，但槓桿率過多的實例已導致巨大損失。 Coinbase指出，比特幣收益基金將利用適度的槓桿作用，並通過與Coinbase和“其他合格的託管人”存儲資產來確定安全性。

“We’re committed to providing institutions with the best-in-class, compliant investment vehicles for digital assets,” said Sebastian Bea, President of Coinbase Asset Management. “With the Coinbase brand and regulatory approval in multiple jurisdictions, we believe the Bitcoin Yield Fund is particularly well suited to the task, given its conservative and compliant investment strategy.”

Coinbase Asset Management總裁Sebastian Bea說：“我們致力於為機構提供一類，合規的投資工具用於數字資產。” “借助多個司法管轄區的Coinbase品牌和法規批准，我們認為比特幣收益基金特別適合該任務，鑑於其保守和合規的投資策略。”

The fund has already secured support from firms like Aspen Digital, a wealth management platform based in Abu Dhabi, which plans to introduce the fund to its client base.

該基金已經獲得了諸如Aspen Digital的公司的支持，Aspen Digital是一個位於阿布扎比的財富管理平台，該平台計劃向其客戶群介紹該基金。

Coinbase’s move comes amid growing demand for institutional-grade Bitcoin yield products, with several new initiatives launched recently to offer returns on BTC holdings while ensuring secure custody and regulatory compliance.

由於對機構級比特幣產量產品的需求不斷增長，Coinbase的舉動是出現的，最近發起了幾項新計劃，以提供BTC控股的回報，同時確保安全的監護權和法規合規性。

Earlier this year, The Core Foundation in partnership with Maple Finance, BitGo (NASDAQ:BITO), Copper and Hex Trust launched lstBTC, which allows users to deposit BTC with custodians like BitGo or Copper and mint a liquid token that accumulates yield over time.

今年早些時候，核心基金會與Maple Finance，Bitgo（NASDAQ：BITO），Copper和Hex Trust合作推出了LSTBTC，該基金會推出了LSTBTC，該LSTBTC允許用戶將BTC與Bitgo或Copper這樣的保管人存入BTC，並造成液體標記，從而積累了隨著時間的收益。

Similarly, Securitize Credit has recently collaborated with digital asset trading firm QCP to increase returns from BTC basis trades by using BlackRock’s (NYSE:BLK) USD Institutional Digital Liquidity Fund as collateral. By combining the basis trade strategy with the yield from the BUIDL fund, Securitize reported annualized returns exceeding 20%.

同樣，Securitize Credit最近與數字資產交易公司QCP合作，通過使用BlackRock（NYSE：BLK）USD機構數字流動性基金作為抵押，以增加BTC基礎交易的收益。通過將基礎貿易策略與Buidl基金的收益率相結合，證券化報告的年度申報表超過20％。