The initial deployment will bring $100 million of BTCcx into real-world opportunities through Concrete infrastructure, while the underlying Bitcoin remains 1:1 backed in qualified custody. 

For Concrete, this marks an important step for BTCcx: moving from infrastructure to deployment at scale.

Putting Custodied Bitcoin to Work

A significant amount of institutional Bitcoin sits in Qualified Custody (“QC”).

However, for many institutions, moving and deploying those assets out of their existing QC environment in order to access financial opportunities introduces an entirely new set of operational and risk considerations.

BTCcx was built to address that gap.

Built on Concrete’s AssetCX architecture, BTCcx connects Bitcoin held in qualified custody to on-chain financial infrastructure. Holders receive ERC-4626 vault shares representing positions backed 1:1 by BTC held in qualified custody.

This creates a new path for institutional Bitcoin: remaining backed by assets in qualified custody while gaining access to opportunities beyond it.

Over $100 Million Through Dolomite

The first large-scale deployment of BTCcx will begin with $100 million, with Concrete and Dolomite collaborating to bring that capital into real-world opportunities.

The deployment also expands Concrete and Dolomite's existing relationship.

Dolomite already supports WLFIcx, another asset built using Concrete’s AssetCX architecture. BTCcx extends that relationship to Bitcoin and demonstrates how the same infrastructure can support multiple custody-native assets and financial products.

From Custody to Real-World Markets

Bitcoin is one of the largest pools of capital in digital assets, but much of the institutional supply remains disconnected from the financial markets where that capital could otherwise be deployed.

BTCcx creates infrastructure between those two environments.

With this initial deployment, BTCcx capital will access real-world opportunities, creating a path from institutional Bitcoin custody into a broader set of financial markets. 

The model:

Bitcoin in qualified custody → BTCcx → Concrete infrastructure → Real-world opportunities

The underlying Bitcoin remains 1:1 backed in qualified custody. BTCcx provides the representation. Concrete provides the infrastructure through which that capital can be deployed.

Expanding AssetCX

While BTCcx is a single deployment, it is part of a much broader system.

AssetCX was built to connect assets held in institutional custody with on-chain financial infrastructure, creating custody-native assets that can be integrated across vaults, lending markets, liquidity venues, and other financial applications.

BTCcx brings that architecture to Bitcoin.

And with $100 million set for its first large-scale deployment, that architecture is beginning to operate at meaningful scale.

Bitcoin stays in qualified custody. The capital goes to work.

BTCcx, powered by Concrete.

See the Dolomite Market: https://app.dolomite.io/explore/token/1/0x852724426b2851487B278A3377449BF26B06C1ba

Important Information

This announcement is provided for informational purposes only and does not constitute an offer, solicitation, investment recommendation, or financial advice. Products, partnerships, deployments, and other arrangements described herein may be subject to further development, approvals, contractual arrangements, eligibility requirements, and jurisdictional restrictions. Any targets, projected returns, deployment amounts, timelines, or forward-looking statements reflect current expectations, are not guaranteed, and may change.

Digital assets and associated strategies involve significant risks, including market volatility, liquidity constraints, counterparty exposure, smart contract vulnerabilities, and possible loss of principal. References to custody, collateralization, risk management, or capital preservation do not constitute guarantees against loss. Unless expressly stated in applicable product documentation, returns are not guaranteed, and digital assets are not bank deposits or government-insured. The roles and responsibilities of Concrete and any third-party issuers, custodians, protocols, or other providers are determined by their respective arrangements and applicable governing documents, which control in the event of any inconsistency.

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