Funds held in crypto vaults have topped $10 billion, up from about $4 billion at the start of 2025, the Financial Times reported, citing Blockworks. The report said typical vault strategies offer yields of around 3% to 10%, while riskier options may offer more than 20%. Vaults can automatically liquidate positions if problems arise, potentially amplifying a sell-off.
The U.S. Securities and Exchange Commission said it was examining when vaults could fall under securities laws. The European Securities and Markets Authority proposed regulating intermediaries that provide access to decentralized-finance services; it said the proposal could extend to lending vaults when crypto-asset service providers provide access to them.
