Bitwise launched its first onchain vault through Morpho, entering the DeFi market with a non-custodial strategy. The vault targets up to 6% APY on USDC through over-collateralized lending.
User funds remain onchain, and allocation is handled automatically via smart contracts. The vault functions like a portfolio of lending positions. Bitwise designs the strategy, manages risk, and controls capital allocation within predefined limits.
The company plans to expand the vaults to support other stablecoins and crypto assets, as well as additional DeFi strategies, including real-world asset tokenization, decentralized exchange liquidity provision, and yield farming.
Jonathan Man leads strategy and risk management, supported by a team of 140 technology and investment professionals. Bitwise has described onchain vaults as “ETFs 2.0” and expects to double assets under management this year.
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