The long-awaited day finally came on Oct. 19 as the first Bitcoin (BTC) exchange-traded fund (ETF) went live on the New York Stock Exchange, thrusting the crypto asset into the limelight across mainstream news outlets and alternative media alike.
Despite the fact that the ETF in question will hold no actual Bitcoin and is instead a futures-based instrument, investors and pundits across the ecosystem have largely hailed its launch as proof that Bitcoin has hit the big leagues and will soon surpass the coveted $100,000 price target.
Many investors either don’t have access or will choose not to interact with the newly launched EFT, but holders can still use a variety of strategies to earn a yield on their BTC holdings.
Here’s a look at some strategies BTC holders can use to earn a yield.
DeFi meets BTC in BadgerDAO
BadgerDAO is an open-source protocol built on the Ethereum network that has the specific goal of building products and the required infrastructure needed to simplify the integration of Bitcoin into decentralized finance (DeFi).
Currently, BadgerDAO has the most extensive list of BTC paired pools where investors can provide liquidity.
As seen in the image above from the BadgerDAO dashboard, there are different offerings from the simple staking of Wrapped BTC (wBTC), which can earn a yield ranging from 1.22% to 27.98% depending on the terms of the lockup, to the staking in more complex liquidity provider (LP) strategies like the renBTC/wBTC/sBTC pool, which