Crypto Asset Manager Bitwise Deploys to DeFi with Maple Finance
Crypto Asset Manager Bitwise Launches DeFi Platform in Partnership with Maple Finance
Crypto asset manager and ETF provider Bitwise has made its first investment in decentralized finance (DeFi) through a partnership with on-chain lending specialist Maple Finance.
Author: Ian Allison | Edited by: Omkar Godbole Updated: Mar 6, 2025 8:44 AM UTC Published: Mar 6, 2025 2:00 PM UTC
Important information:
- Bitwise's investment, for an undisclosed amount, leverages Maple's bitcoin-backed lending product.
- Maple CEO Sid Powell noted that the move marks a significant milestone in the adoption of on-chain lending by institutional managers.
Cryptocurrency asset manager and ETF provider Bitwise announced its first investment in decentralized finance (DeFi) through a collaboration with on-chain lending specialist Maple Finance on Thursday.
Bitwise’s investment, the amount of which was not disclosed, leverages Maple’s bitcoin-backed lending product and represents a major milestone in the adoption of on-chain lending by institutional managers, according to Maple CEO Sid Powell. Maple’s BTC-backed lending product is available to accredited investors in the U.S.
As digital versions of real assets become a common part of traditional finance, companies are starting to look beyond instruments like tokenized Treasury bills, especially as interest rates fall and DeFi yields rise.
According to Powell, Bitwise is confident that the future of asset management will be on a blockchain platform, where products will be transparent and companies will be able to discover new opportunities not available in traditional finance.
“In this context, the yield of bitcoin-backed lending is not a product that is already available elsewhere in traditional finance,” Powell said in an interview. “Maple is offering this product in a way that can be accessed by institutional asset managers.”
Powell added that the move required Bitwise to conduct a thorough and detailed background check and verification.
“It took about 12 months of discussions and upfront work between our teams to get everything on the same page,” he said. “Bitwise has been incredibly thorough and the process involved working with their operations team, legal, compliance, risk and tax teams.”
In addition to its well-known crypto ETFs, Bitwise manages over $12 billion in client assets, including through separately managed accounts, private funds, hedge funds, and staking.
