The bitcoin futures yield collapse: Once over 20%, now less than Treasury notes

CryptoInfo Editorial Team · Published on August 03, 2026 at 10:13 · Updated on August 04, 2026 · 1 min read

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Key Takeaways

→Bitcoin futures' yield has collapsed from over 20% to less than that of two-year U.S. Treasury notes.
→Quarterly basis yields for bitcoin futures have been trailing two-year U.S. Treasuries since February.
→The collapse in yield is a sign of a maturing market with shrinking arbitrage opportunities.

Disclaimer: This content is provided for informational purposes only and does not constitute financial or investment advice.

The bitcoin futures yield has seen a significant collapse, as reported by CoinDesk. What was once a yield of over 20% has now dropped to less than that of two-year U.S. Treasury notes.

This shift began in February, with quarterly basis yields for bitcoin futures trailing behind those of two-year U.S. Treasuries. This change is seen as an indication of a maturing market where arbitrage opportunities are shrinking.

The reduction in yield suggests that the market for bitcoin futures is becoming more efficient, reducing the opportunities for arbitrage that once made these investments more attractive.

Source: CoinDesk ↗

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