Nomura’s crypto arm, Laser Digital, has launched a new tokenised Bitcoin yield fund aimed at institutional and accredited investors looking to earn income while maintaining long-term exposure to Bitcoin.
According to a statement shared with CryptoNews, the Laser Digital Bitcoin Diversified Yield Fund SP (BDYF) blends traditional long-only Bitcoin exposure with market-neutral strategies designed to generate additional returns across different market conditions.
The new product builds on the firm’s earlier Bitcoin Adoption Fund, which debuted in 2023 ahead of the launch of the first U.S. spot Bitcoin ETFs, marking a step forward in Laser Digital’s institutional crypto offering.
A first for tokenised Bitcoin funds
Laser Digital says BDYF is the world’s first natively tokenised, Cayman-domiciled Bitcoin yield fund. Unlike many tokenised investment products that rely on feeder funds or special-purpose vehicles, the tokenised share class is issued directly at the main fund level. This allows investors to hold fund shares on-chain alongside traditional ownership structures.
Tokenisation is managed by KAIO, while Komainu acts as the fund’s primary custodian. The structure supports in-kind contributions, atomic settlement and more efficient on-chain fund administration, the firm said.
Combining growth with income
The strategy is designed for investors who want to stay long Bitcoin while generating yield. It does this by tapping into carry-style, market-neutral opportunities such as arbitrage, lending and options, rather than directional trading.
Laser Digital emphasised that the focus is on capital preservation, not aggressive yield chasing. Institutional-grade risk controls are built in to ensure that income generation does not put the underlying Bitcoin holdings at risk.
The fund targets long-term Bitcoin holders including corporate treasuries, traditional asset managers and sovereign investors. Depending on market conditions, it aims to deliver more than 5% in excess net returns over Bitcoin’s performance across rolling 12-month periods.
Why now?
The firm said the launch reflects Bitcoin’s growing role as a mainstream institutional asset, supported by deeper liquidity and more mature market infrastructure.
At the same time, ongoing macroeconomic uncertainty, inflation concerns and rising correlations across traditional assets are prompting investors to look for alternatives that can both diversify portfolios and generate income.
Laser Digital said its goal is to transform Bitcoin from a passive holding into a more capital-efficient allocation — one that preserves upside potential while producing a steady income stream suitable for institutional mandates.
What executives are saying
Jez Mohideen, co-founder and CEO of Laser Digital, said recent market volatility has increased demand for yield-generating crypto strategies. He described market-neutral, yield-focused funds as “the natural evolution of crypto asset management.”
Sebastien Guglietta, head of Laser Digital Asset Management, added that while Bitcoin is widely viewed as a store of value, it does not inherently generate income. The new strategy, he said, is designed to close that gap for long-term holders.
Broader regulatory and product context
The fund is managed by Laser Digital Middle East FZE, a regulated virtual asset service provider under Dubai’s VARA framework.
BDYF joins the firm’s existing lineup of institutional products, including the Laser Digital Carry Fund and its Multi-Strategy Fund, as Nomura continues to expand its digital asset presence.
Last October, Nomura Holdings signalled plans to deepen its involvement in Japan’s crypto market, with its wholly owned subsidiary Laser Digital Holdings seeking regulatory approval to offer trading services to institutional clients as demand continues to grow.
