Fund services giant Apex Group, which administers over $3.5 trillion in assets, has expanded its tokenization efforts by launching a structured product that provides institutional investors with exposure to Bitcoin mining. The product, called the Omnes Mining Note (OMN), will be issued and managed on Coinbase's Ethereum layer-2 network, Base.
The OMN is an institutional-grade structured note backed by Bitcoin hashrate, designed for professional non-U.S. investors. It offers direct economic exposure to new Bitcoin production measured in computational power, allowing investors to benefit from mining rewards without the operational complexities of managing infrastructure, hardware, energy, or regulatory hurdles.
Each OMN is backed by a fixed 1 petahash per second (1 PH/s) of Bitcoin hashrate for the duration of its 36-month tenor. Ownership is recorded in traditional book-entry form and mirrored on-chain using the ERC-3643 standard, an Ethereum-based protocol for tokenizing real-world assets (RWAs) developed by Tokeny, a company Apex acquired in May of last year.
"Tokenization gives investors mobility and utility that traditional notes cannot," said Peter Hughes, founder and CEO of Apex Group. "Qualified investors can transfer OMN onchain and, over time, potentially use it as a form of collateral in permissioned lending without selling the asset. This enhances liquidity while giving Omnes a more scalable and globally distributable structure."
This move follows Apex's recent partnership on the Coinbase Bitcoin Yield Fund, for which it acts as transfer agent and record keeper. Jesse Pollak, head of Base, hailed the development: "Bringing a regulated debt product backed by mining onto Base is a huge win. It proves that onchain finance isn't just for crypto-native assets - it's for real-world industrial infrastructure too."
Emmanuel Montero, CEO of Omnes, emphasized the unique economic proposition: "Bitcoin mining is the only mechanism that creates new Bitcoin through protocol issuance. This is economically distinct from yield strategies that rely on redistributing existing Bitcoin."
