Keyrock encryption firm says Ochain Asset Management is having a year of rupture.
In a new report, the firm estimated that assets under administration (AUM) have increased 118% by 2025 to $ 35 billion, driven by growth through automated performance vaults, discretionary strategies, structured products and credit.
Keyrock predicts that the sector could almost be doubled again by 2026, reaching $ 64 billion in a base case scenario, or up to $ 85 billion if this year’s growth impulse continues.
The discretionary strategies were those highlighted in 2025, 738% in the year to date, since Ochain’s investment evolves to a credible alternative to traditional finances, according to the report.
The Keyrock report stressed that three protocols, Morpho, Pendle and Maple, now control 31% of the industry’s AUM, underlining both the risk of scale leadership and the risk of protocol concentration.
The yield vaults remain the main entrance point for the assigners, which in command of $ 18 billion in deposits.
Although the smallest wallets dominate in number, whales and dolphins provide the overwhelming majority of liquidity, the report said, contributing 70% -99% of capital in all strategies.
The performance has matured, with competitive net returns with traditional markets, but it is no longer uniformly higher, the firm said. The automated performance vaults exceeded their tradfi peers at approximately 186 basic points after the rates, while structured products and credit in the chain were slightly delayed once the costs were considered.
Discretionary strategies delivered similar results to the coverage funds with the additional liquidity and transparency benefits, the report added.
The Brussels -based company recently expanded to assets and assets with the acquisition of Turing Capital, a registered fund administrator of Luxembourg.
Read more: Keyrock cryptography trade firm buys the capital of Luxembourg Turing in asset management.
