Bitwise Asset Management has made its first institutional decentralized finance (DeFi) investment, allocating funds to Maple Finance’s overcollateralized Bitcoin loans. Although the exact amount was undisclosed, data suggests an increase of approximately $5 million in Maple’s total value locked between March 4 and March 5.
The move highlights growing institutional interest in on-chain credit markets. Bitwise’s investment reflects a broader shift toward blockchain-based lending solutions, with Maple Finance offering high-yield strategies.
Bitwise sees DeFi as a way to access uncorrelated returns, particularly as interest rates in traditional markets remain lower. Jeff Park, Bitwise’s head of alpha strategies, emphasized the firm’s interest in emerging opportunities in on-chain lending.
Maple Finance, specializing in institutional on-chain credit, has over $700 million in total value locked across all its strategies. Bitwise, which manages $12 billion in assets, continues to expand its crypto investment portfolio, including ETFs for Bitcoin and Ethereum.
