Bitwise's RWA Vault Scales $8M in First Day, Offers Competitive Yield
Bitwise's new Premium RWA Vault (PAPY) on the Morpho lending protocol has seen impressive growth, attracting over $8 million in deposits within its first day of launch. The vault, which offers an instantaneous net APY of 5.22%, is a non-custodial platform where users can allocate their AUSD holdings to tokenized real-world assets.
The current allocation breakdown is as follows: 46.59% goes to Huma Finance's PST, 29.23% to Hastra PRIME, and 24.18% to sUSDai. The vault charges a flat management fee of 0.39%, with no performance fee.
Bitwise has been steadily building its on-chain infrastructure, having announced non-custodial vault curation on Morpho back in January. PAPY is the product of this groundwork, and its success is significant given Bitwise's existing $9 billion in client assets across its broader business.