Bloomberg: Coinbase to launch Bitcoin income fund for institutional investors

according to Bloomberg, Coinbase Asset Management is about to launch a new fund aimed at providing regular returns on customers' Bitcoin holdings.

The product, named the Coinbase Bitcoin Yield Fund, is scheduled to launch on May 1st, with a target annual net return rate of 4% to 8%, and the returns will be distributed in Bitcoin form. The fund is only open to non-U.S. institutional investors.