LBTC is a yield-generating asset that merges an institutional off-chain strategy with Bitcoin-denominated returns and full DeFi composability. It aims for a 2.5% APY through covered-call options managed by Bitwise Investment Manager, LLC. The token is deeply integrated as collateral in DeFi apps on 10+ chains, letting holders earn yield and access liquidity. A multi-institution Security Consortium and qualified custodians secure LBTC.