Bitwise, BlackRock, UBS, VanEck, and others are launching institutional crypto yield products that combine traditional finance assets with DeFi infrastructure. These products focus on tokenized Treasuries and money market funds that institutions can use as collateral within permissioned DeFi systems, maintaining compliance and risk controls. The industry is witnessing a strategic shift where institutions adopt on-chain income products structured to fit familiar TradFi frameworks, fostering broader institutional participation.