Bitwise Asset Management has made its first institutional investment in decentralized finance (DeFi) by allocating funds to Maple Finance’s overcollateralized Bitcoin loans, according to Maple’s statement on March 6.
While the exact investment amount was not disclosed, Maple confirmed that Bitwise’s allocation is reflected in the total value locked (TVL) figures on Dune Analytics for its “blue chip secured” strategy. These figures indicate an approximately $5 million increase in Maple’s TVL between March 4 and March 5.
Maple’s CEO, Sid Powell, described Bitwise’s investment as proof of the growing maturity and reliability of on-chain lending infrastructure. Both Bitwise and Maple emphasized that this allocation reflects a larger trend of institutional capital shifting beyond traditional fixed-income investments toward more efficient, scalable on-chain lending markets.
Source: Dune Analytics
Institutional Interest in DeFi
U.S. institutional investors are gradually exploring DeFi, particularly as President Donald Trump has pledged to make the country a global leader in crypto. His administration has also appointed pro-crypto regulators to key positions.
Jeff Park, Bitwise’s head of alpha strategies, highlighted that the company has always sought crypto-native investments that offer dynamic, uncorrelated returns. He also noted Bitwise’s interest in tapping into the growing opportunities in on-chain credit.
Maple’s blue-chip secured strategy currently yields over 9% APR, significantly higher than the 0.01% APR for Bitcoin lending on Aave, according to Aave’s website. And the roughly 4.3% APR in U.S. dollar-denominated money markets, as represented by the Federal Reserve’s secured overnight financing rate (SOFR).
Founded in 2021, Maple Finance focuses on on-chain credit strategies for institutional investors, with its total TVL surpassing $700 million. Bitwise, a crypto-focused asset manager overseeing $12 billion in assets, sponsors several U.S. exchange-traded funds (ETFs), including the Bitwise Bitcoin ETF (BITB) and the Bitwise Ethereum ETF (ETHW).
