London-based asset management firm Abraxas Capital has deposited approximately $140 million worth of cryptocurrency into Spark, a decentralized finance (DeFi) lending protocol, according to data from blockchain analytics platform Onchain Lens. The deposit signals continued institutional appetite for DeFi yield-generating strategies.

Details of the Deposit

Onchain Lens reported that the deposited assets include 26,500 Ether (ETH), valued at roughly $46.33 million, and 780 Coinbase Wrapped BTC (cbBTC), worth approximately $48.53 million. Additionally, the firm deposited $45.99 million in a combination of USDS and USDT stablecoins. The total value of the deposit is approximately $140 million.

The transaction was executed in a single…