BULLISH 📈 : Coinbase and Apex launch tokenized shares of Bitcoin yield fund on Base

Coinbase Asset Management and Apex Group launched a tokenized, permissioned share class of Coinbase’s Bitcoin Yield Fund on Base for non‑US institutional and accredited investors. The firms announced the on‑chain rollout on Thursday. Source.

The fund runs on Base, Coinbase’s Ethereum Layer 2. It targets faster settlement, lower ops costs, and on‑chain oversight. Subscriptions and redemptions process near‑instant, not in days. Source.

Shares are issued under ERC‑3643. The standard enforces KYC/AML in code. “Identity and eligibility at the token level,” said Anthony Bassili at Coinbase. Only whitelisted wallets can hold or trade. Source.

Apex Group administers the fund. The setup aims to plug into existing custody and platforms without breaking compliance. Base was picked for low fees, EVM support, and $5B+ in TVL. It still uses a centralized sequencer, a trade‑off some institutions accept. Source.

This aligns with the RWA push. Asset managers are tokenizing funds and infrastructure. Recent examples include jet engines on Ethereum via ETHZilla. ETHZilla tokenizes jet engines.

Institutional activity is growing. BlackRock and Franklin Templeton are active, signaling more than experiments. On Solana, RWA values set new records this quarter. Source Solana RWA records.

For Base, this adds regulated products beyond meme trading. It can attract stickier institutional TVL and put Coinbase up against global custodians building private rails. Source.

Coinbase plans a US share class next. Timeline depends on regulatory clarity. A successful launch would validate ERC‑3643 for SEC‑compliant products on public chains. Source.

Key assets mentioned:
- Bitcoin yield product on Base
- Built on Ethereum Layer 2
- Comparative RWA momentum on Solana