Bitget has rolled out Bitget BGBTC daily rewards denominated in BTC, appointing quantitative risk firm Gauntlet as independent curator and integrating Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as the token’s canonical cross-chain infrastructure.
BGBTC maintains a 1:1 peg with Bitcoin. The upgrade means holders now earn BTC-denominated yield on that exposure without unwinding their position or routing funds through a separate protocol.
What Bitget BGBTC Daily Rewards Actually Look Like
The token is not new. BGBTC Season 1 launched on 9 January 2025 with five ecosystem partners: Morph, Babylon, Solv Protocol, BedRock, and Bsquared Network. During the pre-launch promotion phase, from 9 December 2024 to 8 January 2025, users who locked BGBTC earned a 2% APR, with historical APR reaching up to 5%.
Bitget has not disclosed a fixed annualised yield for the upgraded programme. Rewards are tied to the performance and sustainability of the underlying yield strategies, meaning the rate will move with market conditions and available opportunities. The upgrade does add support for large-volume and faster redemptions alongside what Bitget describes as institutional-grade risk controls.
Within the Bitget ecosystem, BGBTC already functions as futures margin, lending collateral, and capital for participation in Launchpool and PoolX products. The Bitget BGBTC daily rewards mechanism layers yield on top of those existing utilities.
Gauntlet Steps In as Risk Curator
Gauntlet’s appointment as independent curator is the most substantive governance addition. The firm will monitor BGBTC’s underlying portfolio, assess strategy-level risks, and influence how capital is deployed across the yield stack. According to PYMNTS, Gauntlet currently curates more than $1.5 billion in supplied assets across its vaults and integrates with more than 150 fintechs and institutions.
The firm recently closed a $125 million Series C funded solely by SBI Holdings, a round that followed a $23.8 million Series B in March 2022 at a $1 billion valuation. SBI Holdings cited the GENIUS Act and CLARITY Act as regulatory tailwinds behind the investment.
Per GSR Markets, Gauntlet originally focused on consensus modelling and protocol consulting before pivoting to risk curation as lending markets grew more modular. It now curates across Morpho, Kamino, Aera, and Symbiotic. The Gauntlet blog lists USDC and Bitcoin Earn Vaults on Morph, built with Bitget and Bitget Wallet, as part of that broader remit.
Independent curation adds a layer of oversight, but it does not eliminate losses. Reward levels remain subject to market conditions and strategy performance.
Chainlink CCIP and the Reserve Feed
Chainlink’s CCIP will handle cross-chain messaging and token transfers for BGBTC across supported networks. Bitget has not published a full list of chains at launch or a deployment timeline for additional networks.
CCIP sits alongside an existing Chainlink Proof of Reserve integration, which Bitget formalised on 13 August 2025. The live Proof of Reserve data feed for BGBTC runs on Ethereum mainnet and provides real-time on-chain collateral verification. The two Chainlink integrations serve different functions: PoR handles collateral transparency, CCIP handles cross-chain mobility.
Together, the integrations allow a holder to verify backing on-chain and, in principle, move BGBTC across chains to access DeFi applications outside Bitget’s centralised platform, all while maintaining BTC-denominated yield accrual.
What Remains Unresolved
The announcement leaves several variables open. No fixed APY has been published for the upgraded rewards programme. The full set of supported chains via CCIP has not been disclosed. Specific redemption thresholds were absent from Bitget’s release.
A Bitcoin-backed token of this structure carries platform, custody, smart-contract, and liquidity risks that diverge materially from holding BTC directly. Reward rates that ran at up to 5% historically will compress or expand depending on what yield strategies Gauntlet selects and how those markets perform.
Access restrictions also apply: US users should verify whether BGBTC and its associated yield products are available in their jurisdiction before depositing funds. BTC-denominated rewards may generate tax-reporting obligations depending on how they are classified.
The clearest forward signal is Gauntlet’s strategy selection: the specific venues and protocols it routes BGBTC capital through will set the yield ceiling. If those feeds into Morpho or similar structured vaults, holders will effectively hold a layered BTC position with protocol-level risk sitting beneath the 1:1 peg.
