BTC → WBTC takes over.
The BTC → WBTC route into Ethereum drew 56.8% of settled flow, more than doubling its share as activity concentrated. Net yield held near its trailing anchor at 11.81% BTC APY.
The week in numbers.
Each week's settlement volume and the yield it earned.
Solver performance.
Settlement volume of 17.86 BTC eased from the prior week's high while staying above the run's typical weekly pace — a normal fluctuation across the 8-week series. Flow concentrated into cross-chain WBTC routes: the BTC → WBTC route into Ethereum took 56.8% of volume, while a second BTC → WBTC route into Arbitrum emerged to claim 19.8%.
Net yield annualized to 8.89% BTC APY for the week, easing from the prior week; the trailing four-week reading of 11.81% BTC APY remains the more dependable gauge, since a single week's return annualizes from a small sample. On that basis the product's yield stayed within its recent range.
BTC → WBTC (bitcoin → ethereum) rose to 56.8% of volume (from 27.8%).— Route surge
Where volume settled, by chain and route.
| Route · chain | Vol. ₿ | Trades | Share | WoW |
|---|---|---|---|---|
| BTC → WBTCBitcoin → Ethereum | 10.1554 | 18 | 56.8% | +33.5% ▲ |
| BTC → WBTCBitcoin → Arbitrum | 3.5520 | 10 | 19.8% | +13314.8% ▲ |
| BTC → cbBTCBitcoin → Base | 2.4328 | 7 | 13.6% | +9932.2% ▲ |
| WBTC → BTCArbitrum → Bitcoin | 0.9001 | 2 | 5.0% | −90.9% ▼ |
| WBTC → BTCEthereum → Bitcoin | 0.3578 | 6 | 2.0% | −67.3% ▼ |
| Week total | 17.8569 | 62 |
The record to date.
The Solver protocol has settled 76.10 ₿ across 324 trades in the 9 weeks since inception on April 1, 2026 — net-positive in 9 of them.
The latest month against every month before it.
| Month | Vol. ₿ | Trades | BTC APY | MoM |
|---|---|---|---|---|
| April 2026 | 10.09 | 94 | 17.6% | — |
| May 2026 | 66.02 | 230 | 11.7% | +554.6% ▲ |
| Since inception | 76.10 | 324 | 12.1% |
Credit programs.
Mezzamine Mining Loan I remains active, with capital deployed to the borrower and repayment underway; roughly 10% of principal has been returned to date in native BTC. As a Bitcoin-denominated program, investors are repaid in BTC rather than a wrapped representation, keeping the credit position aligned with the asset it finances.
About.
About this report. The Bitcoin Solver provides settlement liquidity for cross-chain Bitcoin flow, earning a spread on each completed settlement. Every figure here is a realized, BTC-denominated result, net of fees — not a quoted or projected rate. Because a single week is a small sample, the trailing four-week and since-inception figures are the more reliable guide to expected performance. This edition was published retrospectively at the launch of the Weekly Report; all figures are computed as of the week shown.
About the Bitcoin Solver. The Solver is one of Maestro Institutional's curated BTC yield vaults — a permissioned, compliant strategy that earns by meeting cross-chain Bitcoin demand, taking deposits and paying distributions in native BTC. Qualified investors can review the terms and live performance on the vault page.
About Maestro. Maestro is building the financial rails for the Bitcoin economy: a vertically integrated stack across data, liquidity, and credit that puts idle Bitcoin to work financing real-world activity. Our mission is to accelerate the world's transition to a financial system backed by energy and anchored by Bitcoin. More on what we're building →
