Spark and Anchorage Digital Launch Institutional BTC-Backed Lending

Key Facts

1Three institutional counterparties borrowed $150 million in USDC against $222 million of BTC collateral.

Three institutional counterparties borrowed $150 million in USDC against $222 million of Bitcoin collateral. TokenPost reported that these transactions were facilitated through a new arrangement between Spark and Anchorage Digital, designed to provide institutional liquidity against Bitcoin holdings without requiring the sale of the underlying asset.

Anchorage Digital serves as the collateral agent via its Atlas platform, maintaining the pledged Bitcoin in qualified custody while overseeing collateral levels and liquidation processes. This expansion follows growth in Spark’s institutional lending structure, which had approximately $261 million deployed as of June 30, up from $150 million at the end of the first quarter.