Bitget adds daily bitcoin rewards to BGBTC

Bitget upgrades bitcoin-anchored asset BGBTC, adding daily BTC rewards and cross-chain functions.

Bitget has upgraded its bitcoin-supported BGBTC assets, adding daily BTC denominated rewards, cross-chain transfers through Chainlink CCIP, and independent supervision by Gauntlet.

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BGBTC holders will receive daily rewards denominated in Bitcoin. Chainlink CCIP will serve as the normative cross-chain infrastructure for BGBTC. Gauntlet will independently oversee the asset's underlying income strategy. According to Bitget, BGBTC is still supported by Bitcoin in a 1:1 ratio.

Bitget adds daily bitcoin rewards to BGBTC

Bitget said that the upgraded BGBTC will distribute daily rewards denominated in BTC to token holders. The asset is designed to remain anchored 1:1 with Bitcoin while allowing users to make gains without selling their underlying exposure.

The exchange positions BGBTC as an alternative to holding idle bitcoins or transferring it into an independent income strategy. Those strategies may require users to transfer assets between different platforms, manage additional agreements, or accept reduced liquidity.

BGBTC has multiple uses in the Bitget ecosystem. Holders can use the asset as futures margin, loan collateral, or participate in exchanges with Launchpool and PoolX products.

According to Bitget, the upgrade also introduces support for large and faster redemptions. The company said it had increased institutional-level risk controls and greater transparency, but did not provide specific reward rates and redemption thresholds in the announcement.

Rewards are still linked to the performance and sustainability of the underlying revenue strategy. Bitcoin-backed tokens can also pose platform, custody, smart contract and liquidity risks that are different from directly holding BTC.

Chainlink CCIP supports cross-chain transfer of BGBTC

Bitget selected Chainlink's cross-chain interoperability protocol as the normative infrastructure for distributing BGBTC across multiple blockchain networks. CCIP provides the messaging layer needed to transfer assets between support chains. This integration may allow holders to access decentralized applications and financial services outside of Bitget's centralized platform, while retaining exposure to bitcoin-backed tokens.

Bitget has used Chainlink's proof of reserve to verify assets that support BGBTC. Proof of reserve provides on-chain data and is designed to help users assess whether there is sufficient collateral behind the issued supply. Combining proof of reserve with CCIP solves two separate functions: the reserve system focuses on collateral verification, while CCIP handles cross-chain communications and token transfers.

Bitget did not specify each blockchain that would initially support BGBTC through CCIP, nor did it provide a timetable for other network deployments.

Gauntlet will oversee BGBTC's revenue strategy

Gauntlet has been appointed as the independent curator of BGBTC and will oversee the strategies used to generate rewards for holders. The quantitative risk management firm will monitor the underlying investment portfolio, assess risk and help determine how capital is deployed. Bitget said the framework is designed to support the long-term sustainability of BGBTC's earnings rather than relying on a set of unmanaged strategies.

Independent curatorial adds another layer of supervision, but does not eliminate losses. Reward levels may vary based on market conditions, available strategies and the performance of the assets or agreements involved.

Bitget is also working with infrastructure providers including Chainlink and Morph to connect centralized and decentralized financial services through the broader Bitcoin revenue network. The company views USDGO Holder gains as another effort to allow users to earn a return from otherwise idle assets.

What this upgrade means for Bitcoin holders

BGBTC integrates Bitcoin exposure, daily rewards and cross-chain functions into one token. Users may earn returns denominated in BTC while deploying that asset as collateral, margin, or capital in supported decentralized applications.

For U.S. investors, access to BGBTC and related Bitget services may depend on geographical and product restrictions. Users should confirm whether the exchange, tokens and related revenue products are available in their jurisdiction before transferring funds.

Proceeds paid in BTC may also impose tax filing obligations on U.S. holders, depending on how rewards are classified and when users gain control. Bitget did not announce any U.S. launch plans or regulatory approvals in its upgrade announcement.

Future adoption will depend on reward rates, redemption performance, supported networks and transparency of underlying strategies. Bitget has not disclosed a fixed annualized rate of return or a full cross-chain deployment timeline.