[Kraken Institutional Partners with Bitwise to Launch Its First Crypto Yield Management Strategy] According to The Block, Kraken Institutional has announced the launch of its first custodial investment strategy product, in collaboration with asset management firm Bitwise, introducing the 'Bitwise Custom Yield Strategy.' This product is designed to provide qualified institutional clients with professional, yield-focused strategies, allowing clients to generate returns from their held crypto assets through strategies such as covered call options, while the assets remain under Kraken's custody. Bitwise is responsible for portfolio management, while Kraken provides custody, execution, and risk monitoring. A Kraken spokesperson confirmed that the initial strategy focuses on Bitcoin, utilizing a covered call option strategy to generate income by selling call options on Bitcoin holdings. This strategy offers partial downside protection when Bitcoin prices decline (as option income can offset some losses), but caps potential gains during significant market rallies.