Kraken Launches Bitcoin Vault Product to Generate Yield for Users
Kraken rolls out Bitcoin vault product for holders to earn yield

Image: Cointelegraph
Kraken has introduced a Bitcoin yield product that has quickly amassed over $30 million in deposits from 4,000 wallets. The service allows users to earn yield by converting Bitcoin into Kraken Wrapped Bitcoin (kBTC), which is then allocated across various lending platforms.
- 01Kraken's new Bitcoin yield product has surpassed $30 million in deposits within hours of launch.
- 02The product is non-custodial, allowing only depositors to manage their funds.
- 03Withdrawals from the service are estimated to take five days to process.
- 04Kraken's previous stablecoin yield products have generated over $2.2 million in yield since January 26.
- 05A 25% performance fee is charged on the rewards earned from the Bitcoin yield product.
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Kraken has launched a new Bitcoin yield product that allows users to earn returns on their Bitcoin holdings. Within approximately ten hours of its introduction, the product accumulated over $30 million in deposits from 4,000 unique wallets. This service generates yield by converting Bitcoin into Kraken Wrapped Bitcoin (kBTC), which is then distributed across various crypto lending platforms such as Aave, Morpho, and Tydro. The product is designed to be non-custodial, meaning only the depositors have control over their funds. Withdrawals are projected to take around five days to process, and a 25% performance fee is applied to the rewards earned from the product. Kraken's previous stablecoin yield offerings have also seen significant success, with around $245 million in deposits and over $2.2 million in yield generated since their launch.
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