Bitwise Asset Management announced on January 26, 2026, the launch of a non-custodial vault curation product built on Morpho, an onchain lending network. The initial vault is aimed at stablecoins and targets an annual percentage yield of up to 6%, with the firm describing the solution as an onchain investor offering managed by Bitwise.
Bitwise Launches Non-Custodial Vault Curation on Morpho
The new offering is non-custodial and runs on Morpho’s protocol, allowing assets to remain onchain while Bitwise curates vault positions. Bitwise presents the product as a way to give investors access to professionally managed DeFi exposures without transferring custody to a third party.
Key Figures and Strategy
The strategy is led by Jonathan Man, CFA, Head of Multi-Strategy Solutions and DeFi Strategies at Bitwise, and it leverages Bitwise’s 140-person technology and investment team. Bitwise also cites $15 billion in client assets as context for its move into vault curation, framing the product as a method to simplify onchain risk management for investors.
Impact on Institutional DeFi Adoption
Bitwise positions the vault curation offering as a step toward institutional allocation of capital onchain by combining professional management and onchain execution. Morpho notes that the product enables institutionally defined risk parameters directly onchain, which supports governance and operational controls that institutions typically require; this links to broader discussions of stablecoins infrastructure as market plumbing for institutions.
Future Plans and Expansion
Bitwise says the initial vault is the first step, with plans to expand into additional strategies and to use Morpho’s modular architecture for programmable, real-time risk management. The firm frames vault curation as a scalable approach that can evolve as onchain tooling and institutional requirements change.
Why this matters
For miners in Russia with one to a thousand devices, the announcement is primarily relevant as a sign of growing institutional tooling around stablecoins and DeFi execution. Even if your operations are unrelated to vaults, the development indicates larger firms are building onchain products that standardize risk controls and yield exposure, which can influence liquidity and product availability in local markets.
What to do?
If you mine in Russia, you don’t need to act immediately, but it is useful to track how institutional DeFi products develop and how they use stablecoins. Keep an eye on custody and onchain risk practices so you can evaluate counterparties and platforms you might use for converting or holding mined proceeds.
- Monitor product rollouts and the platforms they use, especially for stablecoin access and withdrawal terms.
- Review custody and counterparty risk when moving mined coins into yield products, even non-custodial ones.
- Follow announcements from firms like Bitwise to see whether new strategies become broadly available or affect liquidity in stablecoin markets.
For additional context on Bitwise’s positioning and views on stablecoins, see our Bitwise outlook piece, which discusses the role of stablecoins in institutional strategies.
