Nomura strengthens digital strategy with Bitcoin yield fund for institutional investors

Nomura’s digital asset division, through Laser Digital, is expanding its product portfolio with the launch of the Bitcoin Diversified Yield Fund (BDYF). The initiative directly responds to the growing institutional demand for investment solutions that go beyond simple exposure to the cryptocurrency’s price, combining Bitcoin participation with active return generation. According to Cointelegraph, the new product marks a turning point in the tokenized fund market, differentiating itself from conventional products focused solely on appreciation in value.

Paradigm shift: from pure appreciation to yield strategies

The institutional crypto market has been signaling a clear demand for alternatives to traditional funds. While conventional long-term products focus solely on Bitcoin price fluctuations, the BDYF combines maintaining exposure to the currency with diversified strategies aimed at generating income regardless of broader market fluctuations. This transformation reflects the increasing sophistication of institutional investors, who seek to build portfolios with limited correlation to overall cryptocurrency movements and lower intrinsic volatility.

Operational structure: partnership with Kaio and Komainu

The new fund uses Kaio as the exclusive tokenization provider, while Komainu acts as the primary custodian. This setup ensures both the security of the asset and the efficiency of the tokenized structure, critical elements for attracting institutional capital. The choice of specialized providers reinforces Laser Digital’s commitment to building a robust and reliable infrastructure for actively managed funds. The fund is based on the experience gained with the Bitcoin Adoption Fund, launched in 2023, which offered directional exposure without generating additional yield beyond the spot price appreciation.

Market-neutral strategies: the evolution of decentralized finance

Jez Mohideen, co-founder and CEO of Laser Digital, highlighted that recent volatility cycles have increased investor interest in structures that offer returns independent of broader price fluctuations. According to Mohideen, funds that combine yield with market neutrality, supported by calculated DeFi strategies, represent the natural evolution of asset management in cryptocurrencies. This approach allows Laser Digital to maintain robust Bitcoin positions while taking advantage of opportunities offered by the next phase of decentralized finance.

A complementary, not substitutive, vision

The BDYF strategy was designed to complement, not replace, investors’ direct Bitcoin holdings. By combining exposure to the asset with income generated from market-neutral strategies, the fund offers an additional instrument for sophisticated portfolios. This differentiation clearly marks the separation between the new product and Laser Digital’s 2023 fund, which was limited to passive tracking of price variation. The BDYF positions itself as a bridge between traditional Bitcoin exposure and emerging opportunities in tokenized yield structures, reflecting the maturation of the institutional crypto market.