What Is Bitcoin Yield? Why Every Institutional Investor Should Ask Twice
Bitcoin has no native yield, and every strategy marketed under that label transfers significant risk to investors who believe they are taking almost none.
Generating Synthetic Yield Curves for Deribit Bitcoin Futures
Modeling bitcoin futures basis rates requires a framework that captures their mean-reverting dynamics, cross-maturity correlations, and the market regime shifts that standard interest rate models do not anticipate. This paper presents a practical solution built from 12 months of live Deribit data.