Coinbase Asset Management将于5月1日启动比特币（BTC）收益基金，针对非美国机构投资者

Coinbase Asset Management正在准备在5月1日启动Coinbase Bitcoin收益基金，为非美国机构投资者提供一种新的方式来赚取比特币持有的收益。

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是加密货币交易所Coinbase（NASDAQ：COIN）的子公司，将于5月1日启动Coinbase Bitcoin收益基金，为非美国机构投资者提供一种新的方式来赚取其比特币（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）最初报道的那样，Coinbase Asset Management将推出一种新的投资产品，旨在为比特币持有量产生收益。 Coinbase Bitcoin收益基金将于5月1日开放，将仅向非美国机构投资者提供。

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.

该基金的战略围绕一种称为“基础交易”的投资技术，该技术利用了BTC现货价格与其PERPS价格之间的价格差异。在BTC价格上涨期间，现货价格和PERP价格之间的差距可以大大延长，从而带来了利润的机会。

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.

该基金旨在提供4％至8％的年度净回报，并在BTC中支付收益率。但是，Coinbase警告说，实际收益可能会有所不同。

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.”

尽管基本交易通常被视为一种相对较低的风险策略，但杠杆率过多的实例已导致巨大损失。 Coinbase指出，比特币收益基金将利用适度的杠杆作用，并通过与Coinbase和“其他合格的托管人”存储资产来确定安全性。

“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总裁Sebastian Bea说：“我们致力于为机构提供一类，合规的投资工具用于数字资产。” “借助多个司法管辖区的Coinbase品牌和法规批准，我们认为比特币收益基金特别适合该任务，鉴于其保守和合规的投资策略。”

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.

该基金已经获得了诸如Aspen Digital的公司的支持，Aspen Digital是一个位于阿布扎比的财富管理平台，该平台计划向其客户群介绍该基金。

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.

由于对机构级比特币产量产品的需求不断增长，Coinbase的举动是出现的，最近发起了几项新计划，以提供BTC控股的回报，同时确保安全的监护权和法规合规性。

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.

今年早些时候，核心基金会与Maple Finance，Bitgo（NASDAQ：BITO），Copper和Hex Trust合作推出了LSTBTC，该基金会推出了LSTBTC，该LSTBTC允许用户将BTC与Bitgo或Copper这样的保管人存入BTC，并造成液体标记，从而积累了随着时间的收益。

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%.

同样，Securitize Credit最近与数字资产交易公司QCP合作，通过使用BlackRock（NYSE：BLK）USD机构数字流动性基金作为抵押，以增加BTC基础交易的收益。通过将基础贸易策略与Buidl基金的收益率相结合，证券化报告的年度申报表超过20％。