Catenaa, Saturday, September 12, 2026- Bybit raised the annualized return on its fixed-term Bitcoin vault Friday, increasing the advertised rate from 0.8% to as much as 1.2%.
The exchange introduced the revised offer through a partnership with Function, the protocol behind the tokenized Bitcoin asset FBTC.
Bybit describes the increase as 50%. That calculation compares the two annualized rates rather than the amount earned during one 45-day term.
A 1.2% annualized rate equals a return of about 0.15% over 45 days before compounding, assuming the full rate applies throughout the term.
Eligible customers must lock their Bitcoin for 45 days. Early redemption is unavailable, and a subscription cap of 200 BTC applies.
Users can activate automatic renewal at maturity. That option transfers the original deposit and accrued returns into a new term.
Bybit describes the product as Bitcoin staking, but Bitcoin does not support native staking. Its blockchain uses proof-of-work mining to confirm transactions.
The yield instead comes through an external arrangement involving Bybit and Function’s FBTC system.
Function describes FBTC as a tokenized asset backed by Bitcoin on a 1:1 basis. It allows Bitcoin value to enter smart-contract networks and yield strategies.
Bybit did not identify the specific strategy generating the vault’s return. It also did not disclose counterparties, reserve arrangements or protections supporting its guarantee.
The announcement describes the return as guaranteed while presenting 1.2% as a maximum. Customers must consult the product terms for the applicable rate.
Participants may face exchange custody, protocol and smart-contract risks beyond those associated with holding Bitcoin directly.
The upgraded vault is available through Bybit On-Chain Earn, subject to account eligibility and regional restrictions.
