BTC Yield in DeFi — Current APY
The top BTC vault currently offers a 3.87% 7-day average APY. The table below ranks 19 BTC vaults (WBTC, cbBTC) by 7-day average APY. Rates update daily at 06:00 UTC.
Last updated: July 26, 2026 · Data: vaults.fyi
| Protocol | Vault (links to app) | Network | 7-day APY | TVL | Reputation |
|---|---|---|---|---|---|
| Wildcat | Wintermute Trading Coinbase Wrapped BTC | Ethereum | 3.87% | $11M | Low |
| Wildcat | Wintermute Trading Wrapped BTC | Ethereum | 3.87% | $2M | Low |
| Midas | Midas Hyperithm BTC | Ethereum | 3.53% | $18M | Med |
| Ultrayield | UltraYield BTC | Ethereum | 2.94% | $2M | Med |
| Dolomite | Dolomite: WBTC | Arbitrum | 2.42% | $4M | Med |
| Lagoon | Flagship cbBTC | Ethereum | 2.06% | $8M | Med |
| Concrete | Concrete WBTC | Ethereum | 1.91% | $3M | Med |
| Upshift Finance | Sentora BTC | Ethereum | 1.86% | $3M | Med |
| Compound | Compound WBTC | Ethereum | 0.33% | $2M | Med |
| Morpho | Moonwell Frontier cbBTC | Base | 0.29% incl. 0.28% rewards | $2M | High |
| Metmorpho | Yearn WBTC | Ethereum | 0.10% | $3M | Low |
| Yearn | WBTC-1 yVault | Ethereum | 0.10% | $3M | Med |
| Morpho | Gauntlet WBTC Core | Ethereum | 0.08% | $3M | High |
| Superform | Flagship WBTC SuperVault | Ethereum | 0.07% | $2M | Med |
| Aave | Aave v3 WBTC | Arbitrum | 0.05% | $188M | High |
| Aave | Aave v3 cbBTC | Base | 0.02% | $151M | High |
| Aave | Aave v3 WBTC | Optimism | 0.02% | $14M | High |
| Aave | Aave v3 WBTC | Ethereum | 0.01% | $2.2B | High |
| Aave | Aave v2 WBTC | Ethereum | 0.01% | $29M | High |
Where does this yield come from?
BTC yield in DeFi comes from lending: holders deposit WBTC or cbBTC into lending protocols where borrowers pay interest to access BTC liquidity or take leveraged BTC exposure. Yields are generally lower than stablecoin yields because BTC borrowing demand is smaller than stablecoin borrowing demand in DeFi.
Risk considerations
WBTC (issued by BitGo) and cbBTC (issued by Coinbase) are custodial wrapped tokens that carry issuer counterparty risk in addition to standard DeFi protocol risks. cbBTC launched in 2024 and has a shorter track record than WBTC. Review audit status and TVL before depositing.
Frequently asked questions
What is the current yield on BTC in DeFi?
The top 7-day average BTC DeFi yield is currently 3.87%, from Wintermute Trading Coinbase Wrapped BTC on Ethereum. Across 19 tracked BTC vaults, rates range from 0.01% to 3.87%. Data from vaults.fyi, updated daily.
Why is BTC DeFi yield lower than stablecoin yield?
BTC borrowing demand in DeFi is lower than stablecoin borrowing demand. Stablecoins are borrowed heavily for leverage, liquidity, and payments. BTC is borrowed mainly for leveraged long positions and arbitrage, which are smaller markets. Lower utilization rates translate directly to lower yields for depositors.
What is the difference between WBTC and cbBTC yield?
WBTC (Wrapped Bitcoin, issued by BitGo) and cbBTC (Coinbase Bitcoin) are both ERC-20 BTC-backed tokens that trade at approximately 1 BTC. Their yields differ by protocol and network. WBTC has wider protocol support due to its longer history; cbBTC has expanded rapidly since its 2024 launch. Both carry custodian risk from their respective issuers.
What are the risks of earning yield on BTC in DeFi?
BTC DeFi yield carries three layers of risk: custodian risk (WBTC or cbBTC issuer), protocol risk (smart contracts, liquidations), and market risk (BTC price volatility affects collateral values). There is no insurance for DeFi BTC deposits. Review the protocol's audit history and TVL before depositing.
Related pages
Data sourced from vaults.fyi, updated daily. Last updated: July 26, 2026. Explore all vaults.