PANews reported on April 28 that Bloomberg reported that Coinbase Asset Management will launch the Coinbase Bitcoin Yield Fund on May 1, with an estimated annualized net yield of 4%-8%. The income will be paid in Bitcoin and will only be available to non-US institutional investors. The fund adopts a price spread arbitrage strategy between spot and perpetual contracts. The funds are kept by Coinbase and other qualified custodians, and Bitcoin can be withdrawn monthly. Institutions such as Aspen Digital have participated in the seed investment.