Coinbase to launch yield-bearing Bitcoin fund for institutions
Coinbase, the world’s third-largest cryptocurrency exchange by volume, is launching the Coinbase Bitcoin Yield Fund on May 1, aiming to offer Bitcoin
exposure for institutional investors outside the US.
The fund targets an annual net return of 4% to 8% on Bitcoin holdings, according to an April 28 blog post by Coinbase.
“To address the growing institutional demand for bitcoin yield, Coinbase Asset Management is excited to introduce the Coinbase Bitcoin Yield Fund (CBYF),” the company wrote.
The fund is backed by multiple investors, including Aspen Digital, a digital asset manager based in Abu Dhabi and regulated by the Financial Services Regulatory Authority.
The yield will be generated through a cash-and-carry strategy, through the difference between spot Bitcoin prices and derivatives.
Unlike Ether
and Solana
, Bitcoin holders can’t generate passive income through staking — a gap the fund is aiming to fill, according to the announcement:
The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has given in-principle approval to USDC Stablecoin issuer Circle.
Circle said in an official press release on April 29, 2025 that with the approval, moves closer to getting a full Financial Services Permission (FSP) license to operate as a regulated money services provider in the United Arab Emirates.
Circle’s Co-Founder and CEO, Jeremy Allaire, said the approval “advances our strategy to establish deep roots in markets embracing the onchain economy.”
He added: “It also underscores Circle’s enduring commitment to global stablecoin oversight—strengthening trust, compliance, and adoption worldwide, while laying a resilient foundation for the internet financial system.”
US Requests 20-Year Sentence For Celsius Founder Alex Mashinsky
The founder and former CEO of the now-defunct cryptocurrency lending platform Celsius, Alex Mashinsky, faces a 20-year prison sentence as the US Department of Justice (DOJ) seeks a severe penalty for his role in a multibillion-dollar fraud.
On April 28, 2025, the DOJ filed the government’s sentencing memorandum against Mashinsky, recommending a 20-year prison sentence for his fraudulent actions, which led to billions of dollars in losses for Celsius customers.
The 97-page memo included that, after the platform halted withdrawals on June 12, 2022, Celsius users were unable to access approximately $4.7 billion in crypto assets.
“The Court should sentence Alexander Mashinsky to 20 years’ imprisonment as just punishment for his years-long campaign of lies and self-dealing that left in its wake billions in losses and thousands of victimized customers,” the DOJ stated.
1inch Launches On Solana With Crosschain Swaps In Pipeline
Decentralised exchange (DEX) aggregator 1inch has launched Solana on its ecosystem.
This integration will enable users to trade over 1 million Solana-based tokens directly through the 1inch decentralised application (DApp), according to a press release shared with Cointelegraph.
The move brings 1inch’s Fusion protocol to Solana for the first time. Fusion enables users to define their ideal swap parameters, which are then executed by competing professional market makers, or “resolvers,” using Dutch auction mechanics. Combined with Solana’s ultra-fast block times, the setup promises more efficient and seamless trading execution than other networks.
A 1inch representative told Cointelegraph that users could expect “minimal fees” when executing swaps on Solana. “Users may expect costs of less than one cent,” he added.
