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Coinbase, the world’s third-largest cryptocurrency exchange by volume, is launching the Coinbase Bitcoin Yield Fund on May 1, aiming to offer Bitcoin (BTC) 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. Coinbase introduces a Bitcoin yield-bearing fund. Source: CoinbaseRelated: Michael Saylor hints at Bitcoin purchase as whales stack aggressivelyThe yield will be generated through a cash-and-carry strategy, through the difference between spot Bitcoin prices and derivatives.Unlike Ether (ETH) and Solana (SOL), Bitcoin holders can’t generate passive income through staking — a gap the fund is aiming to fill, according to the announcement:“Bitcoin yield funds have emerged to address this limitation, but these funds generally require institutional allocators to take on significant investment and operational risk.”The new fund seeks to lower the investment and operational risks typically associated with Bitcoin yield products, which Coinbase says will better align with the risk appetite of institutional investors.Related: Stacks Asia expands Bitcoin initiatives with Abu Dhabi partnershipBitcoin momentum mainly driven by institutional interestCoinbase cited growing institutional crypto adoption as the reason behind the launch of the funds, which may have been the reason behind Bitcoin’s significant price recovery over the past week.Bitcoin rose by more than 9% in the week leading up to April 28, bolstered by exchange-traded fund (ETF) inflows, which recorded their second-highest week of inflows at over $3 billion, Farside Investors data shows.Bitcoin ETF Flow, USD, million. Source: Farside InvestorsBitcoin’s recovery to $94,000 was mainly supported by growing “ETF inflows and corporate buying,” amid lagging retail interest, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph, adding:“Retail interest may surge if Bitcoin breaks $100,000, fueled by media hype and FOMO. Monitor the $94,000–$95,000 resistance for potential retail re-engagement.”On April 21, BitMEX co-founder Arthur Hayes predicted that this might be the “last chance” to buy Bitcoin below $100,000, as the incoming US Treasury buybacks may signal the next significant catalyst for Bitcoin price.Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8

The Stacks Asia DLT Foundation has become the first Bitcoin-based organization to establish an official presence in the Middle East, aiming to promote institutional Bitcoin adoption through expanded educational initiatives.Stacks Asia has partnered with the Abu Dhabi Global Market (ADGM) — one of the world’s fastest-growing financial centers — in a move that could boost the adoption of its Bitcoin (BTC) layer-2 (L2) solution in the Middle East and Asia.The new partnership will play a “pivotal role” in shaping the future of Bitcoin’s “programmability and adoption” in these regions through educational programs and support for Bitcoin builders, according to an April 28 announcement shared with Cointelegraph.Through the collaboration, Stacks and the ADGM aim to make it easier for institutions and investors to participate in the growing Bitcoin economy and help set “new standards for regulatory clarity and technical growth” for the rising global Bitcoin capital, according to Kyle Ellicott, executive director at Stacks Asia DLT Foundation.Stacks Asia DLT partners with ADGM. Source: Stacks Asia DLT FoundationRelated: Crypto options desk QCP Capital wins Abu Dhabi license: Report“Stacks and ADGM are a powerful combination for accelerating Bitcoin adoption across the Middle East and Asia,” Ellicott told Cointelegraph, adding:“ADGM has established itself as a world-class global financial hub at the heart of the United Arab Emirates, known as the ‘Capitol of Capital,’ where capital and innovation are brought together to shape the future financial landscape.”“We’ll be working to enable the launch of educational programs, regional developer communities, and create opportunities for the real-world adoption of Bitcoin-powered applications,” he said.Starting in May, the foundation will host a series of live and virtual events to “empower institutions” with the knowledge to integrate Bitcoin into their operations and learn about the “opportunity of productive Bitcoin capital,” Ellicott added.Related: Nomura crypto arm Laser Digital bags Abu Dhabi licenseStacks Foundation pushing for a “progressive” regulatory environment worldwideAs the leading Bitcoin scalability solution, Stacks is also pushing for progressive global regulations that will cement Bitcoin’s role in the future of the financial landscape.“We’re not just focused locally — our team is engaged in global conversations, advocating for frameworks that balance decentralization, security, innovation, and compliance surrounding the unlocking of Bitcoin capital,” Ellicott said.A key part of the strategy involves knowledge sharing with local regulatory bodies to build understanding among government officials about Bitcoin’s characteristics and potential economic impact.The foundation is also developing the Bitcoin Capital Activation Framework, described as a comprehensive policy blueprint to help regulators enable Bitcoin utility in their jurisdictions. The Stacks Foundation will also launch the Bitcoin Policy Bridge in May, a working group uniting regulators from all key jurisdictions across the Middle East and Asia.In February, ADGM signed a memorandum of understanding with the Solana Foundation to advance the development of distributed ledger technology.Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

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