BTC → cbBTC leads volume.
BTC → cbBTC became the week's most-traded pair at 32.5% of flow, as settled volume rose 165.4% to a trailing-8-week high. Net yield annualized to 16.49% BTC APY, above the trailing 10.31% BTC APY.
The week in numbers.
Each week's settlement volume and the yield it earned.
Solver performance.
Flow more than doubled week over week and broadened across chains, with Ethereum-settled routes taking 47.3% of volume and Arbitrum 35.5%. BTC → cbBTC led at 32.5% of the total, rising from a mid-teens share the prior week, while BTC → WBTC and BTC → cbBTC also gained. The move reflects a rotation toward Bitcoin-to-Ethereum settlement rather than any single outsized trade.
The week's settlement spread annualizes to 16.49% BTC APY, above the trailing average of 10.31% BTC APY. A single week annualizes from a small sample, so it is best read against that trend rather than as the product's rate of return.
Highest weekly volume of the trailing 8 weeks (61.7849 BTC / $3.7M).— Volume record
Where volume settled, by chain and route.
| Route · chain | Vol. ₿ | Trades | Share | WoW |
|---|---|---|---|---|
| BTC → cbBTCBitcoin → Ethereum | 20.0841 | 29 | 32.5% | +409.9% ▲ |
| BTC → WBTCBitcoin → Arbitrum | 16.3634 | 22 | 26.4% | +403.4% ▲ |
| BTC → cbBTCBitcoin → Base | 10.2854 | 34 | 16.6% | +529.5% ▲ |
| BTC → WBTCBitcoin → Ethereum | 7.8929 | 44 | 12.7% | −26.3% ▼ |
| WBTC → BTCArbitrum → Bitcoin | 5.6283 | 8 | 9.1% | — |
| Week total | 61.7849 | 167 |
The record to date.
The Solver protocol has settled 301.04 ₿ across 1,040 trades in the 14 weeks since inception on April 1, 2026 — net-positive in 14 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% ▲ |
| June 2026 | 193.48 | 607 | 9.4% | +193.1% ▲ |
| Since inception | 301.04 | 1,040 | 10.6% |
Credit programs.
Both Mezzamine mining-loan programs remained active and BTC-denominated through the week. Mezzamine Mining Loan I continued to amortize, with roughly 15% of principal repaid in native Bitcoin, while Mezzamine Mining Loan II stayed fully deployed to its borrower ahead of its repayment schedule. No program opened or closed this week.
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 →
