Nexo and Coinbase Add New Yield Products

Institutional and retail investors who parked their bitcoin or stablecoins on the sidelines during the 2022–24 “yield winter” suddenly have two fresh, compliance-focused ways to put idle crypto back to work:

Coinbase Asset Management (CBAM) just unveiled the Coinbase Bitcoin Yield Fund (CBYF), a Cayman-domiciled vehicle that targets a 4-8 % net return in BTC with monthly liquidity for non-U.S. institutions. (source)
Nexo confirmed its full re-entry to the U.S. market, bringing back high-yield savings accounts, asset-backed credit lines, and trading services after a two-year regulatory exile and a $45 million settlement.

Below is a quick primer on what each launch means for yield-seekers.

1. Coinbase Bitcoin Yield Fund (CBYF)

Feature	Details
Structure & domicile	Cayman Islands master-feeder; administered by CBAM (SEC-registered RIA / CFTC-registered CPO)
Target return	4–8 % annualized, paid in BTC
How yield is generated	Conservative basis trades and liquidity provisioning executed while coins remain in cold custody; no unsecured loans, no systematic call-selling
Subscription / redemption	Monthly, in bitcoin; five business-day notice
Strategy capacity	~ $1 billion AUM cap; seeded by Abu-Dhabi-based Aspen Digital for distribution in the UAE and Asia
Investor eligibility	Qualified, non-U.S. institutions and family offices

Takeaway: CBYF is Coinbase’s answer to institutions that want BTC yield without the blow-up risk of 2021-style lending desks. Expect rival custodians (Fidelity, Galaxy, BitGo) to follow with “cold-storage yield” funds of their own.

2. Nexo returns to the U.S. with revamped yield suite

Aspect	Details
What changed?	After halting its Earn product in late 2022 and paying $45 million in penalties, Nexo now says the current U.S. administration is “pro-innovation” enough to resume full service. Donald Trump Jr. appeared at the relaunch event in Sofia, Bulgaria.
Products on offer	• High-yield savings on BTC, ETH, USDC, SOL, and 60+ other assets • Instant crypto-backed credit lines • Spot & margin trading, OTC liquidity for institutions
Asset base	Nexo claims to manage >$11 billion in client assets and will open both retail and institutional onboarding “in phases” over the summer.
Regulatory posture	Nexo insists all U.S. products will be offered via a new set of licensed entities and disclosures designed to avoid a repeat of the 2023 SEC case.

Takeaway: Nexo’s comeback tests whether clearer federal guidance (and friendlier rhetoric) can revive centralized yield platforms stateside. Watch for BlockFi’s estate buyers and Celsius creditors to gauge the SEC’s reaction.

How the two offers compare

	Coinbase CBYF	Nexo Yield Accounts
Target users	Non-U.S. institutions	U.S. & global retail + institutions
Denomination	BTC in / BTC out	Deposit & earn in many assets
Custody model	Qualified cold storage; third-party execution	Nexo hot-wallet custody with real-time attestations
Advertised yield	4-8 % in BTC	Up to 12 % in stablecoins; 4-7 % on BTC (tiered)
Liquidity	Monthly, 5-day notice	Flexible (daily) or fixed-term (1–12 mo.)

What to watch next

Institutional spill-over: If CBYF fills its $1 billion cap quickly, expect incumbents to package similar “cold-storage basis” funds—possibly pushing down yields industry-wide.
Regulatory heat-check: The SEC’s response to Nexo’s relaunch will signal whether other lenders (e.g., Ledn, Unchained) feel safe expanding U.S. offerings.
Rate differentials: As on-chain staking yields compress post-Ethereum Pectra, BTC-based funds could grab share—especially among allocators barred from proof-of-stake inflation.

Bottom line for CoinInterestRate readers