Coinbase has expanded its Bitcoin Yield Fund onto its Base blockchain by introducing a tokenized share class, developed in partnership with financial services firm Apex Group. Apex confirmed in a statement on Thursday that the tokenized share class is designed to interact with compatible platforms, wallets, and infrastructure while maintaining regulatory compliance. The move reflects a broader industry trend of financial institutions bringing traditional assets onto blockchain networks.
Coinbase Asset Management president Anthony Bassili stated that the share class incorporates identity and eligibility verification at the token level to satisfy regulatory requirements. The tokenized share class uses the ERC-3643 permissioned token standard, which restricts access so that only eligible investors can participate in the product. This structure is intended to ensure that compliance rules are enforced directly through the token itself.
The tokenized share class is currently available exclusively to institutional and accredited investors located outside of the United States. Coinbase has indicated that it plans to introduce a tokenized share class of the fund for US-based investors at a future date. The underlying fund offers exposure to Bitcoin and generates yield for its holders.
Apex serves as the on-chain transfer agent for the tokenized fund, taking responsibility for managing token ownership, enforcing compliance and transfer rules, and maintaining a complete record of transactions on the Base blockchain. This role places Apex at the center of the fund’s operational and regulatory infrastructure. The arrangement mirrors traditional fund administration but is executed through on-chain mechanisms.
Coinbase originally launched a non-US version of the Coinbase Bitcoin Yield Fund in April, followed by a US version in October. The non-US version targets an annual return of between 4% and 8%, denominated in Bitcoin. Coinbase stated at the time of launch that the product was created to address Bitcoin’s inability to generate native yield, a feature available to proof-of-stake assets such as Ether and Solana.
The launch adds Coinbase to a growing list of major asset managers bringing tokenized products to blockchain networks. Firms including BlackRock, Fidelity Investments, and Franklin Templeton have already introduced tokenized funds on-chain. The appeal of tokenization for financial institutions centers on potential benefits such as reduced costs, faster settlement times, and continuous trading availability.
Originally reported by CoinTelegraph.
