Nomura“s Laser Digital has officially launched the first tokenised Bitcoin yield fund tailored for institutional and accredited investors aiming to generate income alongside long-term exposure to Bitcoin (BTC). This new vehicle, named the Laser Digital Bitcoin Diversified Yield Fund SP (BDYF), is designed to enhance portfolio efficiency rather than serve as a speculative investment.
The launch represents a significant step in the evolution of Bitcoin investment strategies, positioning BDYF as the first natively tokenised fund of its kind, domiciled in the Cayman Islands. It issues shares directly at the main fund level through KAIO, with Komainu acting as the custodian. This innovative structure aims to streamline how institutions can hold and transfer fund interests on-chain, minimizing operational complexities.
BDYF combines traditional long-only Bitcoin exposure with income-generating strategies that are market-neutral. By employing approaches such as arbitrage, lending, and options trading, the fund targets excess returns exceeding 5% over rolling 12-month periods, contingent on market conditions. The emphasis is on capital preservation, with robust risk controls established for the underlying BTC.
Laser Digital highlights that the timing of BDYF”s launch reflects the maturation of Bitcoin as an institutional asset. Factors such as macroeconomic uncertainties, inflation risks, and increased correlations across various asset classes are driving institutional allocators to seek income opportunities and diversification. The fund is positioned as a means for digital-asset treasury entities, traditional financial institutions, and sovereign allocators to enhance returns while maintaining core Bitcoin exposure.
CEO Jez Mohideen noted that rising volatility has fueled demand for yield-bearing, market-neutral funds that leverage decentralized finance (DeFi) strategies. Meanwhile, Sebastien Guglietta emphasized that BDYF addresses the traditional lack of yield associated with Bitcoin investments. The fund is managed by Laser Digital Middle East FZE, which operates under the regulations of Dubai”s VARA, and complements the firm”s Carry Fund and Multi-Strategy Fund.
