Coinbase Global (COIN) Launches US Bitcoin Yield Fund

Group 1 - Coinbase Global, Inc. launched the Coinbase US Bitcoin Yield Fund (USCBYF) aimed at accredited U.S. investors, intending to provide returns above regular bitcoin price gains through BTC private credit lending and basis trading [1] - Canaccord Genuity reduced its price target for Coinbase to $336.3 from $400 while maintaining a Buy rating, indicating a cautious outlook despite the new fund launch [2] - The new fund for U.S. investors follows the earlier launch of an offshore Coinbase Bitcoin Yield Fund for non-U.S. investors, addressing the demand for bitcoin yield in both markets [2] Group 2 - Coinbase operates a leading cryptocurrency platform that allows users to securely buy, sell, store, and use digital assets, highlighting its significant role in the cryptocurrency industry [3]