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BounceBit Pilots Bitcoin Trading Strategy Using BlackRock's BUIDL as Collateral
The strategy, offering an annualized yield exceeding 24%, will be soon rolled out to institutions and retail users.
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What to know:
- BounceBit successfully executed a bitcoin derivatives trading strategy with BlackRock's BUIDL fund, achieving a total yield exceeding 24%.
- The strategy involved a bitcoin basis trade and shorting BTC put options, both collateralized by BUIDL tokens, enhancing returns compared to stablecoin-collateralized strategies.
- BounceBit plans to roll out this BUIDL-collateralized strategy to institutional and retail users, marking a new class of CeDeFi applications.
BounceBit, a crypto infrastructure provider using features from both centralized (CeFi) and decentralized finance (DeFi), has executed a bitcoin derivatives trading strategy using BlackRock's yield-generating tokenized money market fund, BUIDL, to enhance returns.
The strategy, to be rolled out to institutions and retail users, consisted of two main components: a bitcoin basis trade, involving a long position in the spot market while shorting futures, and a short position in BTC put options, both collateralized by BUIDL tokens.
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The basis trade, also known as cash and carry arbitrage, alone generated an annualized yield of 4.7%, with put option writing contributing an additional 15%. Combined with the 4.25% return from BUIDL used as collateral, the total yield exceeded 24%.
Integrating BUIDL as collateral helped generate a higher return than strategies collateralized by stablecoins, which do not generate any return.
"This strategy allows investors to capture both Treasury Bill yields and funding rate arbitrage returns," Jack Lu, founder and CEO of BounceBit said in a press release exclusively shared with CoinDesk.
"BounceBit bridges the gap between Western real-world asset issuers and Asian crypto trading infrastructure, providing new options for yield generation," Lu said.
BounceBit is the native BTC restaking chain secured by staking both bitcoin and BounceBit tokens. The network allows BTC holders to earn yields through native validator staking, DeFi ecosystem and a CeFi-like mechanism powered by Ceffu and Mainnet Digital. As of writing, cryptocurrencies worth over $500 million were locked on BounceBit.
BounceBit plans to roll out the BUIDL-collateralised strategy to institutional and retail users soon. "The successful pilot is a proof of concept to our new product line BB Prime, which will be available to both retail and institutional users," BounceBit's spokesperson told CoinDesk.
"This strategy underpins BB Prime as a new class of CeDeFi applications built on top of RWAs which are traditionally troubled by a lack of utilities beyond just holding for t-bill yield, hindering mass adoption," the spokesperson added.
BUIDL, launched in March 2024 by Securitize and BlackRock, is a tokenized investment fund operating on multiple blockchains, including Ethereum, Aptos and Polygon. The token, currently boasting a market cap of $2.88 billion, is backed by short-term U.S. government bonds, boasting a stable value pegged at one dollar per token.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
知っておくべきこと:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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