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Generating Yield on Bitcoin

A map of the yield strategies open to institutional Bitcoin holders: credit and lending, basis and derivatives, volatility and options, and on-chain. What each route pays across a cycle, where its risk sits, and what it gives up.
Access to this report is restricted. It is a financial promotion under section 21 of the Financial Services and Markets Act 2000. In the United Kingdom it is directed only at investment professionals and high net worth entities as defined in Articles 19(5) and 49(2) of the Financial Promotion Order, and elsewhere only at professional and institutional investors. It is not directed at retail investors. Please confirm your category below.

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Xapo Bank is a licensed private bank built for long-term Bitcoin holders, combining regulated custody, credit and everyday banking.
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Important notice: distribution restricted
This report is a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 ("FSMA"). In the United Kingdom, this report is directed only at (i) persons having professional experience in matters relating to investments who fall within Article 19(5) of the FSMA (Financial Promotion) Order 2005 (the "FPO"), and (ii) high net worth companies, unincorporated associations and other persons falling within Article 49(2)(a) to (d) of the FPO (all such persons together, "relevant persons"). This report must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this report relates, including the fund referenced in Section 12, is available only to relevant persons and will be engaged in only with relevant persons. This report is not directed at, and must not be distributed to, retail investors. It has not been approved by a person authorised under FSMA.
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