Bitwise Enters DeFi Market, Launches Vault Strategy Targeting 6% Annual Yield

Bitwise Asset Management has announced the launch of its first on-chain vault strategy via the decentralized lending protocol Morpho, marking its full-scale entry into the decentralized finance (DeFi) market. Known for its cryptocurrency ETFs, the company is now venturing into DeFi. The inaugural vault targets up to a 6% annual yield in the stablecoin USDC, allocating funds to Morpho's over-collateralized lending market. Jonathan Mann, Head of Multi-Strategy Solutions and Portfolio Manager at Bitwise, leads the strategy and risk management.