Bitget has rolled out a major upgrade to BGBTC, its Bitcoin yield-bearing token. The asset, pegged 1:1 to Bitcoin, now offers daily rewards denominated in BTC and supports fast redemption at scale. The move sharpens the exchange's pitch to holders who want yield without leaving the exchange.
What the upgrade changes
BGBTC holders previously collected rewards on a different schedule. Now they get daily BTC payouts — a shift that makes compounding more frequent. The exchange also says the asset can handle large redemptions more quickly, though it didn't specify exact time frames. The 1:1 peg stays intact.
Why daily rewards matter
Daily compounding is a big draw for users who want to see their Bitcoin stack grow without waiting weeks. It also puts BGBTC on more competitive footing with other yield products like staking or lending. Bitget is positioning the asset as a simple way to earn on Bitcoin without moving it off the exchange or into DeFi.
Redemption at scale
The fast redemption feature targets institutional or high-volume users. If a whale wants to cash out a large position, the system can handle it without slippage or delays. That's a key differentiator in a market where liquidity can be thin and large redemptions often cause headaches.
The upgrade is live now. Users can start earning daily rewards immediately. Bitget hasn't disclosed reward rates or caps, and it's unclear if the rates will adjust based on demand. The exchange will likely monitor adoption closely. No date for the next update has been announced.
