What return makes sense when risking Bitcoin? When asked about the hurdle rate for BTC, @alexandersblume gave this great answer. @Two_Prime

Early access to our conversation with @alexandersblume, CEO of @Two_Prime going out to subscribers of the newsletter in the next hour. Subscribe now: bitcoinyield.com/#newsletter

The Top BitcoinYield Strategies Today 📈 Checked: September 28, 2026 at 8:21 AM PST 🔸Paid in BTC: @Syntetika hBTC: 10.93% APY @MidasRWA mHyperBTC: 5.02% APY @AmbossTech Magma: 4.41% avg loan rate* APR @SolvProtocol BTC+: 3.00% APY @Lombard_Finance Earn: 2.41% APY 🎪 Paid in ALTs: @yieldbasis cbBTC Token Yield: 6.72% APR @Starknet BTC Staking: 3.26% APR @babylonlabs_io Staking: 0.04% APR 🏦 BTC-Denominated Managed Funds: @syphercapital Fund: 2.40% *Amboss reported average loan rate. See all tracked products at bitcoinyield.com

Should we be more opinionated on the yield products we've covered on our social channels? Our Top Picks Today & Why. *will be heavily caveated.

The LBTC exit question Suppose you buy Lombard's LBTC on a DEX today. Who owes you native BTC when you leave? Lombard’s LBTC terms draw a line between a Holder and a Direct User. Holding the token, however acquired, does not by itself give you a redemption claim against the issuer. Direct issuer redemption requires eligibility, IP screening and a valid redemption request for that transaction. The current terms exclude US and UK persons from that direct route.If you cannot use that route, your practical exit is a secondary-market sale or DEX. For a meaningful allocation, we would put four fields beside the yield quote: • Am I eligible to redeem directly with the issuer? • What are the processing time and conditions? • How much secondary-market depth is executable at my size? • What discount could I tolerate if direct redemption is unavailable? Source: docs.lombard.finance/resourc…

BitcoinYield 5-minute explainer: @Syntetika's hBTC vault cbBTC in, hBTC receipt back, Hilbert's BTC Basis+ run off-chain, NAV-priced, 1–3 week exits. Syntetika's hBTC showed a 10.93% APY as of today. Most of that comes from a temporary campaign paid in cbBTC. Read our full report: bitcoinyield.com/product/syn…

In a recent meeting with financial advisors, Matt Hougan says roughly two-thirds of attendees had no Bitcoin exposure. This is a crypto-focused webinar. The broader wealth-management market is earlier still. For financial advisers, the first decision is whether to own Bitcoin at all, and most are still exploring. From youtu.be/YWCxykottEM?si=C-tv…

The Top BitcoinYield Strategies Today 📈 Checked: September 25, 2026 at 8:39 AM PST 🔸Paid in BTC: @Syntetika hBTC: 10.93% APY @AmbossTech Magma: 4.41% APR* @SolvProtocol BTC+: 3.00% APY @Lombard_Finance Earn: 2.26% APY @MidasRWA mHyperBTC: 1.91% APY 🎪 Paid in ALTs: @yieldbasis cbBTC Token Yield: 7.44% APR @Starknet BTC Staking: 3.23% APR @babylonlabs_io Staking: 0.04% APR 🏦 BTC-Denominated Managed Funds: @syphercapital Fund: 2.40% *Reported average loan rate. See all tracked products at bitcoinyield.com

A Bitcoin ETF can launch and still be out of reach for many advisers. Wealth platforms must approve it, then add it to portfolio models. @Matt_Hougan, CIO at @Bitwise, explains why access takes time. From E12: What Wall Street Wants From Bitcoin Yield youtu.be/YWCxykottEM

We sent this week’s briefing to the 245 Bitcoin allocators on our list. Few highlights:  - YieldBasis WBTC & cbBTC are negative. - Syntetika continues to top the list by far, thanks to short term incentives. - Readers get early access Monday to our interview with Alexander Blume, CEO of Two Prime. - What we're reading this week (like Bitwise's Institutional Crypto Adoption Report) Join the list: bitcoinyield.com/#newsletter

We just finished recording with @alexandersblume, CEO of @two_prime. Discussing Bitcoin lending, the current yield landscape, and the firm's recent on-chain vault launch. A few takeaways: 1. The Bitcoin hurdle rate Blume's view is the natural CAGR of the asset is the "risk-free" rate. While qualified custody can make that position slightly negative. - “the risk-free rate is something like negative 40, 50 bips.” 2. Lending out Bitcoin Direct lending out of BTC can see roughly 1–5%, depending on duration, terms, and collateralization. Who are users of this type of lending? — “Large hedge funds use it as collateral to trade. Prime brokers use it as a way to facilitate client activities." 3. Vaults as cheaper capital-formation Blume says a properly built fund can cost $150k–$250k to set up, while a vault can be much less. That lowers the operating cost and opens the product to investors below a $10m SMA. — “a vault is less than that, maybe it's 25 to 50k.” 4. The visible yield menu has tradeoffs Incentive farming is hard to scale. Borrowing dollars against BTC, then chasing onchain yield, adds risk layers. Covered calls can be crowded and poorly paid when volatility is low. — “With current IV, you could not pick a worse time to find a covered call selling strategy.” 5. Our Trust model is deliberately hybrid Pareto curates. ICE provides custody. Monthly NAV reporting and loan approval sit alongside Two Prime's underwriting and track record. “Onchain” does not mean every part is transparent or permissionless. — “I want to be directly in DeFi as little as possible as a starting point.” 6. The billion dollar ambition The ambition is institutional-scale Bitcoin credit. — “I'm in this to make a multi-billion-dollar vault.” The full interview will go out to the BitcoinYield mailing list first on Monday. Public release two days later. Join the list: bitcoinyield.com/#newsletter

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Tomorrow on the pod: @alexandersblume, CEO of @Two_Prime. We’ll cover institutional BTC, how lending actually works at this scale, and their newly launched onchain vault. What do you want asked?

Throwback from episode one of the Bitcoin Yield Podcast w/ @setzeus.  We went in with some assumptions about what institutional and on-chain native yield user profiles looked like.   A year later, where do you think we stand on these topics today? Are they changing?

You can collect “Bitcoin yield” and still finish with less Bitcoin. In @Tyr Capital’s two-year model, covered-call strategies ended at 0.72–0.93 BTC-equivalent per 1 BTC invested. Premium income ≠ growing your stack is the claim. From @Tyr_Capital's recent newsletter. We have not verified the claims but found the article interesting. Thoughts?

How does Bitwise vet its onchain partners like @Lombard_Finance? @Matt_Hougan, Chief Investment Officer at @Bitwise, explains the high underwriting bar—and why even a strong track record cannot guarantee an outcome. From E12: What Wall Street Wants From Bitcoin Yield. youtu.be/YWCxykottEM?si=scr8…

The Top BitcoinYield Strategies Today 📈 Checked: September 21, 2026 at 10:29am PST 🔸Paid in BTC: @Syntetika hBTC: 10.92% APY @AmbossTech Magma: 4.41% APR avg* @Binance Earn: 3.88% APY @SolvProtocol BTC+: 3.11% APY @Lombard_Finance Earn: 2.38% APY 🎪 Paid in ALTs: @yieldbasis cbBTC Token Yield: 7.07% APR @Starknet BTC Staking: 3.43% APR @babylonlabs_io Staking: 0.04% APR 🏦 BTC-Denominated Managed Funds: @syphercapital Fund: 2.40% rate See all tracked products at bitcoinyield.com