The Managed Fund Approach to Bitcoin Yield | Sypher Capital Fund Managers - Michael Song & Steve Han

About this episode

The episode discusses the managed fund approach to Bitcoin yield with insights from Sypher Capital's fund managers.

Get weekly Bitcoin yield insights in your inbox: https://www.bitcoinyield.com/#newsletterIn this episode, I sit down with Steven Han and Michael Song of Sypher Capital to discuss how serious Bitcoin fund managers are approaching BTC-denominated yield.We cover why some allocators prefer a managed fund over deploying directly into protocols, what diligence looks like across Bitcoin L2s, basis trades, RWAs, custody, tax, and smart contract risk, and why the core investor demand is simple: don’t lose the Bitcoin.Sypher Capital’s Bitcoin Yield Fund targets conservative, BTC-denominated income for high-net-worth individuals, advisors, and allocators who want exposure to Bitcoin yield without managing every protocol position themselves.Topics covered:Managed BTC yield vs direct protocol deploymentWhy Bitcoin yield is changing so quicklyHow Sypher evaluates protocols and counterpartiesCustody, tax, and reporting for traditional investorsRWAs, tokenization, and Strategy-linked productsWhy simplicity may win in the long runWhat serious Bitcoin holders actually want from yieldResearch and protocol coverage:https://www.bitcoinyield.comSypher Capital:https://syphercapital.com/sypherbitcoin/

People in this episode

Host: BitcoinYield

Guests: Steven Han, Michael Song

Topics covered

• Managed BTC yield
• Bitcoin fund managers
• Custody and tax
• Protocol evaluation
• Investor demand
• Bitcoin L2s

Keywords

• Bitcoin yield
• managed fund
• protocols
• custody
• tax
• high-net-worth
• investor demand
• BTC-denominated income

Mentioned in this episode

Organizations: Sypher Capital, BitcoinYield

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