Bitwise Launches First On-Chain Vault via Morpho, Targeting Up to 6% APY for USDC

Odaily News: Cryptocurrency asset management firm Bitwise Asset Management announced the launch of its first on-chain vault strategy through the decentralized lending protocol Morpho, officially entering the DeFi space.

This vault uses the USDC stablecoin as its core asset, targeting an annualized yield of up to 6%. Funds will be deployed to the overcollateralized lending market on the Morpho platform. Bitwise will be responsible for strategy design and real-time risk management, while user assets will remain non-custodial and held on-chain.

Bitwise stated that such on-chain vaults aim to provide a more accessible solution for investors seeking DeFi yields but unwilling to manage complex on-chain risks themselves. The company also revealed that it may support more stablecoins and crypto assets in the future, and gradually expand into other DeFi strategies such as RWA tokenization, DEX liquidity provision, and yield farming.