Crypto asset management firm Bitwise Asset Management announced its official entry into the DeFi space with the launch of its first onchain vault strategy through the decentralized lending protocol Morpho. The vault uses the USDC stablecoin as its core asset, targeting an annualized yield of up to 6%, with funds deployed in Morpho's over-collateralized lending market. Bitwise will handle strategy design and real-time risk management, while user assets will remain in a non-custodial, on-chain state. Bitwise stated that this type of onchain vault aims to provide an easier-to-use solution for investors who want to earn DeFi yields but do not wish to manage complex on-chain risks themselves. The company also revealed that it may support more stablecoins and crypto assets in the future and gradually expand to DeFi strategies such as RWA tokenization, DEX liquidity provision, and yield mining.