Kraken launched a Bitcoin vault product on Thursday, letting holders earn yield on their BTC. Within the first 10 hours, the Kraken Earn BTC Vault pulled in $30 million worth of Bitcoin deposits from 4,000 unique wallets.
The early numbers
That's $30 million in less than half a day. The vault went live and the deposits started flowing immediately. Kraken didn't disclose a cap or a target, but the pace suggests strong demand for yield on Bitcoin — something that's been hard to find in a regulated setting.
Wallet breakdown
Four thousand wallets in 10 hours works out to an average of about $7,500 per deposit. Not all are whales. The mix of wallet sizes could indicate both retail and institutional interest, though Kraken hasn't broken down the numbers further.
What the vault offers
Kraken's vault is marketed as a way to earn yield on Bitcoin without locking funds into a separate DeFi protocol. The exchange handles the yield generation internally. The product is part of Kraken Earn, the exchange's suite of staking and lending services. It's the first time Kraken has offered a dedicated yield product for Bitcoin specifically.
