Bitget’s Morph yield vaults reach $55M TVL one week after launch
AI Market Summary
Bitget's onchain yield vaults on Morph reached $55M TVL within a week, highlighting accelerating demand from centralized-exchange users for DeFi-style yield. Onchain data showing ~$32.1M BTC collateral backing ~$12.1M USDC borrowing signals meaningful early credit activity, while Gauntlet/Morpho infrastructure and Chainlink CCIP reduce operational friction. The development reinforces BTC's expanding utility beyond spot holding via collateralized yield and lending.
Impact level
● Medium
Affected assets
BTC/USDT+0.11%
AI Insight · BTC/USDTAI Insight
▲ Bullish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Bitget’s yield vaults on Morph have reached $55 million in total value locked one week after launch, with the bgBTC product going live on July 31 and a USDC strategy following on August 3. On-chain data show about $32.1 million in BTC posted as collateral with $12.1 million in USDC borrowed against it, while another $23.2 million has been deposited into a Gauntlet-managed vault. The product was built with Gauntlet and Morpho and is available via Bitget Exchange and the self-custodial Bitget Wallet.
