CoinDesk
Two Prime has launched the Axiom WBTC Yield Vault, a bitcoin lending vault built on Pareto's onchain private credit infrastructure, marking the institutional asset manager's expansion from off-chain bitcoin-backed lending into onchain finance.
The vault accepts wrapped bitcoin (WBTC) with a $250,000 minimum deposit and an initial capacity of 1,350 BTC, roughly $104 million. It targets an annual yield of 1.5% to 2% funded by institutional lending, with returns subject to market conditions and not guaranteed. Two Prime has committed roughly $10 million of its own capital as first-loss protection, and custody of vault assets sits with ICE Digital Trust and Copper Technologies, with distribution planned through BitGo's earn platform.
Why it matters
The structure connects bitcoin holders seeking income with institutions seeking bitcoin funding, and the borrower base is pointedly institutional: public companies, credit-rated entities and diversified financial institutions. Two Prime putting its own capital in the first-loss position is the detail allocators will read, since it aligns the manager with depositors before outside money absorbs any drawdown.
Market impact
Regulated custody from ICE Digital Trust and Copper, plus distribution through BitGo, gives the vault the compliance wrapper institutions typically require before touching onchain yield products. If the format attracts deposits toward its $104 million capacity, it opens another channel for dormant bitcoin to become productive credit collateral, a bid for onchain private credit that scales with BTC holdings rather than stablecoin supply.
Frequently asked questions
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What is the Two Prime Axiom WBTC Yield Vault?
It is a bitcoin lending vault built on Pareto's onchain private credit infrastructure. It accepts WBTC deposits and targets 1.5% to 2% annual yield by lending to institutional borrowers including public companies and credit-rated entities.
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What is the minimum deposit and capacity of the vault?
The vault requires a minimum deposit of $250,000 in WBTC and has an initial capacity of 1,350 BTC, roughly $104 million. Returns are subject to market conditions and are not guaranteed.
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How much first-loss capital has Two Prime committed?
Two Prime has committed roughly $10 million of its own capital to absorb initial losses, placing the manager ahead of depositors in the loss waterfall.
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Who provides custody for the vault's assets?
ICE Digital Trust and Copper Technologies hold the vault's assets in custody, with distribution planned through BitGo's earn platform.
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Why does this vault matter for the bitcoin market?
It gives bitcoin holders an institutional-grade onchain income product while routing capital to institutional borrowers, and it could unlock dormant BTC as productive credit collateral at scale.
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