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.