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Highlights
- Bitwise has made its first institutional DeFi allocation through Maple Finance.
- The partnership will give the investment manager access to on-chain credit.
- Bitwise is increasing its ecosystem activity with the latest being an S-1 filing for an Aptos ETF.
Bitwise Asset Management has made its decentralized finance (DeFi) debut via an allocation with Maple Finance. The firm’s decision to wade into DeFi will grant it access to on-chain credit markets with regulatory compliance at the heart of the partnership.
Bitwise Makes First DeFi Allocation Through Maple Finance
Maple Finance has announced a partnership with Bitwise that will see the asset management firm access on-chain credit. According to a press release, Bitwise entered the DeFi space via an institutional allocation with Maple Finance in a pioneering move for the crypto index fund manager.
The partnership will see Bitwise lean on Maple’s regulatory-compliant infrastructure to access “yield-generation opportunities” in the DeFi ecosystem. Bitwise’s allocation with Maple provides a measure of structure and transparency in the “Wild West” of DeFi as it enters into unknown terrain.
The move is expected to signal Bitwise’s transition away from traditional fixed income toward on-chain lending markets.
“Across all our active solutions at Bitwsise, we’ve always sought to take advantage of crypto-native investments that generate dynamic uncorrelated returns,” said Bitwise Head of Alpha Strategies Jeff Park.
Bitwise’s decision to partner with Maple is not a flash in the pan. Park cites Maple’s experience in the space with institutional capital, particularly its risk management frameworks or institutions. Maple has a streak of issuing overcollaterized loans backed by cryptocurrencies.
“Maple’s deep expertise and battle-tested infrastructure position Bitwise and our clients well to access the opportunities with confidence and scale,” said Park.
Bitwise’s Deepens Its Position In The Cryptoverse
Bitwise, the largest crypto index fund manager in the US is sizzling with activity in recent weeks. The company has filed an S-1 for an Aptos ETF with the US Securities and Exchange Commission (SEC). The insitution’s plan is to provide regulated APT exposure to investors, tracking the value of the layer 1 blockchain.
The fund manager says it will donate 10% of its ETF earnings toward the open-source development of Bitcoin.
The firm has rolled out a raft of crypto-based ETFs, inching forward with a potential launch for a Dogecoin ETF. The registration of the legal entity for the memecoin-based ETF is fuelling speculation for Dogecoin price to reach $6.
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