Laser Digital unveils tokenised Bitcoin yield fund

Laser Digital launches a natively tokenised Bitcoin yield fund for institutions, combining Bitcoin exposure with income strategies like arbitrage and lending, aiming for returns beyond standard Bitcoin holdings.

Laser Digital, the digital asset division of Nomura, has introduced the Laser Digital Bitcoin Diversified Yield Fund (BDYF), a natively tokenised Bitcoin yield fund tailored for institutional and accredited investors. This fund seeks to provide income in addition to long-only Bitcoin exposure by integrating directional Bitcoin holdings with diversified, market-neutral strategies such as arbitrage, lending, and options. BDYF represents an evolution of Laser Digital’s previous Bitcoin Adoption Fund and is described as the world’s first natively tokenised, Cayman-domiciled Bitcoin yield fund. Unlike traditional tokenised structures that rely on special purpose vehicles or feeder funds, BDYF issues its tokenised share class directly at the main fund level, enabling on-chain ownership alongside conventional share classes. The fund’s structure supports in-kind contributions, atomic settlement, and efficient on-chain administration. Custody of the underlying Bitcoin assets is managed by Komainu, while tokenisation is facilitated by KAIO. BDYF is designed to complement existing Bitcoin allocations and aims to generate excess returns over Bitcoin across market cycles, maintaining transparent risk controls.