Bitwise launches its first on-chain vault on Morpho protocol

Bitwise has launched its first on-chain vault through the DeFi lending protocol Morpho, The Block reported. The vault deploys USDC in overcollateralized lending markets and targets a yield of up to 6%. Jonathan Man, Head of Multi-Strategy Solutions at Bitwise, explained that the vault may support other stablecoins and crypto assets in the future. He added that the firm could also expand into various DeFi strategies, such as RWA tokenization and providing liquidity to decentralized exchanges.