Coinbase Partners With Apex to Tokenize Bitcoin Yield Fund on Base

Early institutional allocations to Bitcoin and Ether largely focused on price appreciation or arbitrage. As investors hold these positions for longer, a second wave of demand is emerging for assets that can generate cash flow while investors wait for prices to rise. Yield products are also bringing crypto closer to traditional structured products and prompting major financial institutions to evaluate stablecoins, tokenization and real-time settlement.

On March 24, Coinbase institutional head Brett Tejpaul said the second wave of capital had begun. On March 19, Coinbase partnered with Apex Group, which services more than $3.5 trillion in assets, to launch a tokenized Bitcoin Yield Fund on Base targeting mid-single-digit returns. BlackRock’s ETHB, which includes staking yield, began trading on February 18.

Investors seeking exposure to Bitcoin mining have traditionally had to build mining facilities or own shares in mining companies. The Omnes Mining Note (OMN), by contrast, packages the hashrate required to produce new coins into a secured debt instrument. The involvement of Apex Group, which administers more than $3.5 trillion in assets, signals that real-world asset tokenization is expanding into mining returns.

Omnes and Apex Group said on March 24, 2026, that OMN would be issued and administered on Base, Coinbase’s Ethereum Layer 2 network, and offered only to professional non-U.S. investors. Each unit represents a fixed 1 PH/s of computing power and has a 36-month term, with ownership mirrored onchain under the ERC-3643 standard. The companies have not disclosed the note’s fundraising target or how returns will be calculated.