1 hour ago
Latest NewsPublishedMay 28, 2026
Within the archetypal 10 hours of launch, the Kraken Earn BTC Vault raked successful $30 cardinal worthy of Bitcoin deposits from 4,000 unsocial wallets.
Crypto speech Kraken has launched a non-custodial Bitcoin product, giving a 2.5% yearly yield, adding to the company’s output merchandise offerings amid a rising capitalist request for crypto reward products.
Kraken unveiled the merchandise connected Wednesday with the enactment of crypto output infrastructure supplier Veda, which said the offering seeks to region “the headaches that travel with wrapping Bitcoin, moving assets, oregon managing a crypto wallet.”
Kraken’s offering comes arsenic Bitcoin (BTC) holders' request for output products has risen, but person seen constricted improvement arsenic the Bitcoin blockchain does not person mechanisms for users to make output compared to blockchains specified arsenic Ethereum and Solana.
“Many Bitcoin holders connected Kraken person made it wide they privation elemental ways to gain connected the Bitcoin they already program to hold,” Kraken Earn merchandise manager John Zettler said successful a statement.
About 10 hours aft the launch, Veda said the Bitcoin output merchandise had passed $30 cardinal worthy of Bitcoin deposits from 4,000 unsocial wallets.
Kraken’s 3 stablecoin output products that it launched successful January person exceeded astir $245 cardinal successful lawsuit deposits and generated implicit $2.2 cardinal successful output since launching connected Jan. 26.
Related: Coinbase, Apex Group tokenize Bitcoin Yield Fund connected Base
Kraken’s merchandise generates output from Bitcoin by swapping it to Kraken Wrapped Bitcoin (kBTC), a token replicating Bitcoin’s price, which crypto level Sentora past allocates crossed crypto lending platforms specified arsenic Aave, Morpho and Tydro.
The merchandise is non-custodial, meaning lone depositors tin retreat oregon transportation their funds. Withdrawals are estimated to instrumentality 5 days to process, and the work providers instrumentality a 25% show interest connected rewards.
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