The Crypto Keyrock trading company said that the management of onchain assets has a year in small groups.
In a new report, the company estimated that assets under management (AUM) jumped from 118% in 2025 to 35 billion dollars, driven by growth between automated yield vaults, discretionary strategies, structured products and credit.
Keyrock predicts that the sector could almost double by 2026, reaching $ 64 billion in a basic case scenario, or up to 85 billion dollars if this year’s growth momentum continues.
Discretionary strategies were the star in 2025, up 738% the year at the start, because ONCHAIN’s investment evolves towards a credible alternative to traditional finance, according to the report.
Keyrock’s report pointed out that three protocols, Morpho, Pendle and Maple, now control 31% of industry AUM, highlighting both the risk of leadership and protocol concentration.
Yield chefs remain the main entry point for beneficiaries, dominating $ 18 billion in deposits.
While small portfolios dominate in number, whales and dolphins provide the overwhelming majority of liquidity, noted the report, contributing 70% to 99% of the capital between strategies.
Performance has matured, with competitive net returns with traditional markets but are no longer even higher, the company said. Automated yield chefs have surpassed their tradfi peers by around 186 basic points after the costs, while structured products and onchain credit have slightly late once the costs have been taken into account.
Discretionary strategies have provided heating funds with the additional advantages of liquidity and transparency, added the report.
The company based in Brussels has recently extended to Asset and Wealth Management with the acquisition of Turing Capital, a fund manager registered by Luxembourg.
Find out more: The Crypto Keyrock Commerce Society buys the Turing capital of Luxembourg in the management of assets
