LASER DIGITAL LAUNCHES TOKENIZED BITCOIN YIELD FUND

Summary from the TLDR Crypto newsletter

Nomura's crypto subsidiary, Laser Digital, launched the Bitcoin Diversified Yield Fund SP (BDYF), the world's first natively tokenized Cayman-domiciled Bitcoin yield fund targeting institutional and accredited investors. The fund aims to generate over 5% excess net returns above Bitcoin performance through market-neutral strategies, including arbitrage, lending, and options, while maintaining long-only BTC exposure with institutional-grade risk controls. Unlike traditional tokenized fund structures that use SPVs or feeder funds, BDYF issues tokenized share classes directly at the main fund level, enabling true on-chain ownership alongside traditional shares.