Crypto Asset Manager Bitwise Partners with Maple Finance for DeFi Allocation
Bitwise has entered the decentralized finance (DeFi) space by partnering with Maple Finance to allocate an undisclosed amount into a bitcoin-backed lending product. Key points include:
- The partnership marks a significant step in institutional adoption of on-chain credit.
- Maple's BTC-backed lending is available for accredited U.S. investors.
- As traditional finance evolves, firms seek DeFi yields amid declining interest rates.
- Bitwise emphasizes the transparency and unique opportunities of on-chain asset management.
- The collaboration involved extensive due diligence over 12 months across various teams at Bitwise.
- Bitwise manages over $12 billion in client assets, including crypto ETFs and private funds.