Coinbase Global Ranks 30th in Trading Volume with $1.548 Billion as Bitcoin Yield Fund Launches

On April 28, 2025, Coinbase Global (COIN) experienced a trading volume of $1.548 billion, ranking 30th in the day's stock market activity. The stock price of Coinbase Global (COIN) decreased by 2.08%.

Coinbase Asset Management is introducing the Coinbase Bitcoin Yield Fund, a long-bitcoin fund designed to generate 4-8% net returns in BTC. This fund is aimed at institutional investors seeking passive income on their Bitcoin holdings. The fund will be launched on May 1, 2025, and will use a cash-and-carry strategy to exploit price differences between spot and derivatives markets. The fund is backed by investors including Abu Dhabi-based Aspen Digital and is intended to provide a lower-risk path for institutions seeking Bitcoin exposure with yield.

Coinbase's Chief Legal Officer, Paul Grewal, has urged the U.S. Office of Government Ethics (OGE) to rescind its 2022 guidance prohibiting SEC staff from owning cryptocurrencies. Grewal argued that allowing crypto ownership is critical for regulators to properly understand the technology they are tasked with overseeing. The 2022 advisory banned SEC staff from buying, selling, or holding cryptocurrencies, treating them differently from stocks and other publicly traded securities. Grewal suggested the SEC could grant waivers for members of its Crypto Task Force as an interim solution while broader reforms are considered. He also pointed to President Trump’s directive for agencies to submit crypto regulation recommendations within 90 days as a reason for urgency.