Apex, a major fund services provider, to tokenize Bitcoin mining note on Coinbase’s Base platform.

Apex will tokenize the Omnes Mining Note “OMN,” an institutional-grade structured note supported by Bitcoin hashrate.

Bitcoin mining (Hashage)

What to know:

• The OMN offers professional non-U.S. investors direct economic exposure to new Bitcoin production, measured in hashrate.
• Each OMN is supported by a fixed 1 petahash per second (1 PH/s) of Bitcoin hashrate throughout the 36-month tenure.

Apex Group, a major fund services provider managing over $3.5 trillion in assets, has expanded its tokenization offerings with a structured product that grants institutions access to bitcoin BTC$71,216.11 mining, which will be issued and managed on Coinbase’s Ethereum overlay platform, Base.

Since acquiring real-world asset (RWA) specialist Tokeny last May, Apex has been making significant strides into the tokenization sector, and announced on Tuesday its plans to tokenize the Omnes Mining Note, OMN, an institutional-grade structured note supported by bitcoin hashrate.

The OMN provides professional non-U.S. investors with direct economic exposure to new bitcoin production quantified by hashrate, which represents the computational power used for validating transactions and generating the leading cryptocurrency, without the operational challenges of managing mining equipment, energy, or regulatory issues, as stated in a release.

Each OMN is supported by a fixed 1 petahash per second (1 PH/s) of Bitcoin hashrate for the entire 36-month term. Ownership is documented in book-entry form and reflected onchain under the ERC-3643 standard, as indicated on the Omnes website. ERC-3643 is an Ethereum-based protocol for the tokenization of RWAs developed by Tokeny.

“Tokenization offers investors flexibility and functionality that traditional notes lack,” stated Peter Hughes, founder and CEO of Apex Group, in the announcement. “Qualified investors can transfer OMN onchain and, over time, potentially utilize it as collateral in permissioned lending without the need to sell the asset. This increases liquidity while providing Omnes with a more scalable and globally distributable framework.”

Apex noted last week that its collaboration on the Coinbase Bitcoin Yield Fund, for which it acts as a transfer agent and record keeper for the fund’s net asset value, would be accessible to investors on the Base network.

“Introducing a regulated debt product backed by mining onto Base is a significant achievement. It demonstrates that onchain finance is not limited to crypto-native assets but extends to real-world industrial infrastructure as well,” remarked Jesse Pollak, head of Base.

“Bitcoin mining is the sole method for generating new Bitcoin through protocol issuance. This is economically different from yield strategies that depend on redistributing existing Bitcoin,” explained Emmanuel Montero, CEO of Omnes.