TLDR
Core Foundation partners with Maple Finance and custody firms BitGo, Copper, and Hex Trust to launch lstBTC, a liquid staking token for institutional Bitcoin holders
The new token allows institutions to earn yield on Bitcoin holdings while maintaining existing custody arrangements
Maple Finance will issue the liquid staking token in coming months, enabling staked BTC to be used as collateral in DeFi applications
Current yields target 5%+ APY for 90-day locks, with slightly lower rates expected for the liquid staking token
Over 5,500 BTC and 165 million CORE are currently staked on the Core blockchain, with $850 million in total locked value
Core Foundation and Maple Finance are launching a new Bitcoin staking solution that allows institutional investors to earn yield while keeping their assets with trusted custodians. The partnership, announced February 17, 2025, includes major custody providers BitGo, Copper, and Hex Trust.
The new product, called lstBTC, transforms Bitcoin into a yield-generating asset without requiring institutions to move their holdings from existing custody arrangements. This development comes as the cryptocurrency industry searches for ways to make Bitcoin holdings more productive.
Maple Finance CEO Sid Powell explained that the current Bitcoin staking product, launched earlier this month, offers yields of more than 5% APY for 90-day lockups. The upcoming liquid staking token will provide instant redeemability but with somewhat lower returns due to the increased flexibility.
The Core blockchain currently hosts over 5,500 staked Bitcoin and 165 million CORE tokens. The platform has processed more than 350 million transactions and manages $850 million in total locked value since its mainnet launch in January 2023.
Institutional users can create lstBTC by depositing Bitcoin with participating custodians. The token maintains full liquidity, allowing holders to trade, transfer, or use it as collateral while still earning returns. When redeemed, users receive their original Bitcoin plus earned yields directly to their custodial accounts.
The system uses Core’s dual-staking mechanism, which enables Bitcoin to earn CORE rewards while maintaining network security. Maple Finance oversees the yield-generating strategies, implementing institutional-grade risk management practices.
Hong Sun, an institutional contributor to Core DAO, described the collaboration as a breakthrough for institutional Bitcoin holders. The partnership combines Core’s blockchain technology, Maple’s risk management, and the security infrastructure of established custodians.
Institutional Staking Takes Shape
For institutional investors managing Bitcoin holdings, the new token offers a solution to a common challenge: generating returns while maintaining security and operational efficiency. The target market includes portfolio managers, ETP issuers, accredited investors, and market makers.
The Core blockchain has gained support from Bitcoin miners, with approximately 80% of Bitcoin mining power contributing to network security. This integration has helped attract over 40 million unique addresses to the platform.
Core presents itself as Bitcoin’s first Proof of Stake layer and the largest Bitcoin DeFi ecosystem. It combines Bitcoin’s security features with what they call Satoshi Plus consensus for improved scalability.
Maple Finance, established in 2021, brings its experience as an institutional lending platform for DeFi to the partnership. The platform launched its SYRUP token in 2024 to enable community participation through staking and governance.
BitGo, founded in 2013, processes a large portion of Bitcoin network transactions and serves as the world’s largest independent digital asset custody and staking service provider. The company supports thousands of institutions and millions of retail investors globally.
Copper, operating since 2018, focuses on custody and collateral management for institutional clients. Their ClearLoop technology allows users to manage collateral and settle trades across multiple exchanges.
Hex Trust, also founded in 2018, provides regulated institutional digital asset custody, staking, and marketplace services. The company serves builders, investors, and service providers through its integrated infrastructure.
The lstBTC token is now available for institutional clients. Interested parties can learn more at lstbtc.coredao.org or by contacting Core directly.
