Bitwise makes first institutional DeFi allocation

Bitwise Asset Management has made its first institutional decentralized finance (DeFi) allocation, depositing into Maple Finance’s overcollateralized Bitcoin loans, Maple told Cointelegraph on March 6. 

Maple did not disclose the size of the investment but confirmed that Bitwise’s allocation is represented in Dune Analytics total value locked (TVL) figures for Maple’s “blue chip secured” strategy. 

Those figures show a roughly $5 million increase in Maple’s TVL between March 4 and March 5. 

Bitwise’s investment is “a testament to the…