-- The Stacks ecosystem today announced that Bitcoin Staking is live, with 21shares, HashKey Cloud, UTXO Management (Nakamoto Inc. subsidiary), and Sypher Capital participating in the Genesis Bond, the first institutional bonding period for Bitcoin Staking on Stacks. A total of ~250 BTC was bonded at launch, with the first weekly BTC rewards expected to be distributed on September 17.
The initial bond is intentionally limited in size, allowing participating institutions to use Bitcoin Staking in a live environment before capacity expands in future bonding periods. The launch introduces a new way for institutions to earn BTC-denominated rewards. Institutions can now keep their Bitcoin under their own keys on Bitcoin L1, using STX as the staking capacity asset that unlocks a target 3% APY in BTC-denominated yield.
The launch participants span the institutional Bitcoin market. UTXO Management, a subsidiary of Nasdaq-listed Nakamoto Inc., is Bitcoin-native asset manager; 21shares is one of the world's leading issuers of crypto exchange-traded products; HashKey Cloud (HKEX: 3887) operates regulated digital asset infrastructure and Asia's largest institutional staking provider by assets under management; and Sypher Capital allocates institutional capital across the digital asset ecosystem. Each entered through its own diligence, custody, and risk process, an early signal that Bitcoin Staking fits the standards institutional committees apply to new yield sources.
UTXO Management, HashKey, and 21shares maintain custody of their BTC on Bitcoin L1 throughout the process. Sypher Capital participates through pooled liquid staking on the Stacks network via StackingDAO, a protocol that manages the bonding process by pairing BTC with STX on a participant’s behalf.
Bitcoin Staking rewards come from Stacks miners, who bid BTC through Proof of Transfer to mine Stacks blocks. Proof of Transfer has operated since January 2021 and has distributed more than 4,200 BTC, valued at more than $300 million, to network participants.
Genesis Bond participants earn rewards from that established BTC flow. Bonded BTC is locked on Bitcoin L1 using Bitcoin script. There is no mechanism by which participants can lose their BTC principal.
For participants using a liquid-staking provider, the provider manages the day-to-day bonding process while the underlying bond retains the same no-slashing structure.
Enterprise infrastructure providers are also building support for the launch. Fireblocks, the enterprise platform securing more than $5 trillion in digital asset transfers annually, is expanding its integration with Stacks to give institutional clients a path into Bitcoin Staking using the custody, compliance, and operational tooling they already rely on.
Muneeb Ali, Founder, Stacks
“The Genesis Bond moves Bitcoin Staking into live institutional participation,” said Muneeb Ali, Founder, Stacks. “These initial participants demonstrate how institutions can put Bitcoin to work while maintaining the custody and risk standards their organizations require.”
Alistair Byas-Perry, Head of Capital Markets & Trading, 21shares
"Innovation and early adoption are a core part of 21shares’ DNA. As the Bitcoin ecosystem develops, institutional investors are increasingly looking for ways to turn BTC into a productive asset,” said Alistair Byas-Perry, Head of and Capital Markets & Trading at 21shares. “Participating in the Stacks Genesis Bond allows us to add another mechanism to generate native Bitcoin yield. This significantly enhances our customised solutions capabilities, enabling us to offer sophisticated BTC treasury management strategies for institutional allocators looking for productive capital.”
Dr. Xiao Feng, Chairman and CEO, HashKey Group
“We’re excited to join the Stacks signer network and participate in Bitcoin Staking, supporting the infrastructure that brings greater utility and institutional participation to Bitcoin.”
Tyler Evans, Co-Founder and Chief Investment Officer of UTXO Management and Chief Investment Officer of Nakamoto Inc.
“Bitcoin Staking on Stacks provides something that hasn’t existed before: a way to earn BTC-denominated yield while Bitcoin never leaves the base layer.”
Steven Han, Managing Partner, Sypher Capital
“Bitcoin Staking on Stacks eliminates the need to move BTC off the base layer. Our position earns BTC-denominated rewards while remaining liquid and composable across Bitcoin-native DeFi.”
Omer Amsel, Head of Web3 at Fireblocks
“Bitcoin DeFi represents an untapped opportunity in digital assets, but the infrastructure required to make it accessible to institutions has only recently matured,” said Omer Amsel, Head of Web3 at Fireblocks. “Through our expanding integration with Stacks, we’re working to give Fireblocks clients a path to Bitcoin-denominated rewards using the custody, compliance, and operational standards their businesses require.”
Capacity for each bonding period is limited. Institutions interested in participating should begin registration, diligence, and custody preparation in advance. Future bonding periods are expected to open on a monthly basis through the remainder of 2026, subject to final confirmation, with capacity expected to increase over time.
The Genesis Bond represents the first pillar of the Stacks roadmap. The PoX-5 hardfork activated on July 30, 2026, at Bitcoin block 960,230, establishing the protocol foundation for Bitcoin Staking. The launch of the Genesis Bond marks the next step in that roadmap.
Future phases focus on scaling the infrastructure supporting the network and expanding the Bitcoin-native financial applications built on Stacks. The BTC bonded today establishes an initial liquidity base that can support the continued development of Bitcoin-native finance.
Institutions interested in Bonding Period 2 can register at stacks.co/institutional-bitcoin-staking.
Individual BTC and STX holders can also participate in Bitcoin Staking through supported staking pools, including StackingDAO. Additional information is available at stacks.co/bitcoin-staking.
About Stacks
Stacks is the leading Bitcoin L2, enabling smart contracts and decentralized applications to use Bitcoin as a secure base layer. Stacks extends Bitcoin’s functionality without modifying Bitcoin itself, unlocking BTC for decentralized finance and other onchain applications.
Learn more at stacks.co.
About 21shares
21shares is one of the world’s leading issuers of cryptocurrency exchange-traded products, providing investors with innovative, simple and cost-efficient access to digital assets through traditional financial markets.
Learn more at 21shares.com.
About HashKey
HashKey Group (HKEX: 3887) provides trustworthy digital asset services to 1 billion global users, operating across trading, asset management, custody, infrastructure, and Web3 technologies. HashKey Cloud, the Group's institutional staking and yield infrastructure arm, has provided node validation services since 2018 across more than 40 networks and is the No. 1 staking provider in Asia by AUM. Visit hashkey.com and hashkey.cloud
Learn more at hashkey.com and hashkey.cloud.
About UTXO Management
UTXO Management is a Bitcoin-focused asset management firm led by co-founder and Chief Investment Officer Tyler Evans. In February 2026, UTXO Management was acquired by Bitcoin-focused holding company Nakamoto Inc. (NASDAQ: NAKA), led by CEO David Bailey, a co-founder of UTXO Management.
Learn more at utxo.management.
About Sypher Capital
Founded in 2019, Sypher Capital is an institutional digital asset manager serving accredited investors, family offices, and registered investment advisors. The firm manages Sypher Capital Partners, the Sypher Bitcoin Yield Fund, and BorrowOnBitcoin, with strategies spanning public and private blockchain investments, Bitcoin yield, and Bitcoin-backed lending. Sypher focuses on disciplined risk management, institutional infrastructure, and unlocking the opportunities created by blockchain technology.
Learn more at syphercapital.com and borrowonbitcoin.com.
About Fireblocks
Fireblocks is the world's most trusted digital asset infrastructure company, empowering organizations of all sizes to build, manage and grow their business on the blockchain. With the industry's most scalable and secure platform, Fireblocks streamlines stablecoin payments, settlement, custody, tokenization and trading operations across the largest ecosystem of banks, payment providers, stablecoin issuers, exchanges and custodians. Thousands of organizations, including Worldpay, BNY Mellon, Galaxy and Revolut, trust Fireblocks to secure trillions in digital transactions across more than 150 blockchains. Learn more at fireblocks.com.
Learn more at fireblocks.com.
Media Contact: Shannon Voight, PR & Events, [email protected]
Release ID: 89203042
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