Bitwise on assets under curation
4.0/ 20% of the score
$21M under curation. Morpho shows $21.6M, including a small Arc vault.
8 of 20 pts · api.llama.fi · checked September 21, 2026
Best DeFi Vault Curators · Rank 08 of 14
Bitwise review
Advisers and institutions that want a known asset-manager brand curating an RWA-backed stablecoin lending vault.
Scored by Maria FernandezLast verified September 21, 20267 scored facts
Score6.4
64 of 100 points
The short answer
Bitwise scores 6.4 out of 10 and ranks #8 of 14 in the best defi vault curators table, strongest on depositor losses (10.0) and weakest on public reporting (0.0).
Bitwise Asset Management, a crypto asset manager, began non-custodial vault curation on Morpho in January 2026 for private-wealth, RIA, family-office and institutional investors. Its main vault, Bitwise Premium RWA (PAPY, launched 2026-09-02 on Ethereum), lends AUSD against tokenized real-world-asset collateral (Huma PST, sUSDai, Hastra PRIME).
Key facts on record
- Primitives
- Morpho
- Networks
- 3
What the record shows
7 facts, each converted to points by the tables published in the table’s methodology. Each score below is read from the fact printed under it, with its source and the date it was checked.
Bitwise on tenure as curator
5.0/ 10% of the score
First vault 2026-02 — 7 months as of 2026-09-21.
5 of 10 pts · api.morpho.org · checked September 21, 2026
Bitwise on depositor losses
10.0/ 25% of the score
No depositor loss on record.
25 of 25 pts · api.morpho.org · checked September 21, 2026
Bitwise on public reporting
0.0/ 15% of the score
Not published — not recorded.
0 of 15 pts · no source on record
Bitwise on performance fee
10.0/ 10% of the score
0% performance fee. Plus a 0.39% management fee on its main vault.
10 of 10 pts · app.morpho.org · checked September 21, 2026
Bitwise on safeguards
10.0/ 10% of the score
Timelock and guardian.
10 of 10 pts · api.morpho.org · checked September 21, 2026
Bitwise on primitives and networks
6.0/ 10% of the score
3 primitive–network pairs.
6 of 10 pts · app.morpho.org · checked September 21, 2026
Quick answers
- What is Bitwise best for?
- Advisers and institutions that want a known asset-manager brand curating an RWA-backed stablecoin lending vault.. Bitwise Asset Management, a crypto asset manager, began non-custodial vault curation on Morpho in January 2026 for private-wealth, RIA, family-office and institutional investors.
- Where does Bitwise rank among best defi vault curators?
- #8 of 14, scoring 6.4 out of 10 — 64 of 100 points.
- What is the weakest part of Bitwise?
- Public reporting at 0.0. Not published — not recorded.
Strengths and weaknesses
In its favour
- Regulated-style asset manager brand aimed at institutions. The main vault has 7-day timelocks and a sentinel.
- Simple fee: 0% performance and 0.39% management on PAPY.
Against it
- Short record (first vault February 2026) and small (about $21M), almost all in one RWA vault launched in September 2026.
- PAPY collateral is concentrated in RWA credit tokens (about 74% Huma PST per press coverage). We found no recurring public reporting.
How Bitwise compares
14 services in best defi vault curators
- 01Steakhouse FinancialStablecoin depositors and fintech integrators who want conservative, blue-chip-collateral Morpho vaults.10.0
- 02SentoraInstitutions and stablecoin issuers looking for a white-label curated vault with a research-heavy risk desk.9.8
- 03kpkConservative USDC/ETH depositors and DAOs who want low-fee Morpho vaults with strong governance controls.9.2
- 04YearnDeFi-native depositors who want Morpho USDC/ETH exposure with an openly published risk-scoring method.8.2
- 05RockawayXDepositors who want RWA and private-credit yield through Morpho or Kamino and accept a newer curator.8.1
- 06GauntletDepositors who want low-fee Prime-tier stablecoin vaults across many chains from a long-running quant risk firm.6.7
- 07KeyrockInstitutions that want a market maker's credit view on USDC lending, including on the Arc chain.6.7
- 08Bitwiseyou are hereAdvisers and institutions that want a known asset-manager brand curating an RWA-backed stablecoin lending vault.6.4
- 09SparkStablecoin depositors who want long timelocks and Sky-ecosystem backing.6.2
- 10K3 CapitalDepositors looking for Euler-based ETH and stablecoin yield on newer chains like Monad and Plasma.5.9
- 11HyperithmStablecoin depositors who want tiered-risk Morpho vaults on Monad and Ethereum from a quant-trading firm.5.4
- 12MEV CapitalMainly a case study in curator risk; what remains is a small set of Morpho vaults.5.2
- 13Re7 LabsExperienced users who want long-tail chains and assets and accept higher curator risk.4.7
- 14UltraYieldUsers who want Edge Capital's market-neutral strategy vaults more than a large Morpho/Euler lending book.4.1