Financial Giant Fidelity Backs Bitcoin Derivatives Yield Fund

in #crypto2 years ago

Wave Financial, a Los Angeles-based trading platform, recently announced the launch of a bitcoin derivatives-based yield fund that will have Fidelity Digital Assets provide custody for the fund’s Bitcoin reserves. The Wave Bitcoin Income & Growth Digital Fund is based in the British Virgin Islands and plans to let investors generate yield by selling call options on the Bitcoin reserves held in the Fund. According to Wave, the yield fund plans to distribute a dividend of 1.5% of net asset value (NAV) per month and is aiming for an 18% target annual yield.

full story: https://news.bitcoin.com/financial-giant-fidelity-backs-bitcoin-derivatives-yield-fund/