DeFi curation report maps $11.29B across 856 vaults; curated TVL rises 39% as supply-side TVL falls 41.8%

The report "The State of DeFi Curation 2026" maps $11.29B across 856 vaults, 131 curators and 18 protocols. Curated vault TVL rose 39% over the past year while supply-side DeFi TVL fell 41.8%, lifting curated market share from 5.24% to 12.51%. Concentration is high: five curators manage 69.3% of curated TVL, the top ten manage 79.1%, and rankings shift quickly—two of the current top five entered the market a year ago. Morpho leads with 46.2% of curated TVL; the other 53.8% spans 17 protocols. Bitcoin-backed assets account for 54.1% ($2.00B) of the $3.71B in Morpho's 25 largest curated stablecoin vaults, with Ethena at $666M.

✨ AI summary of the linked source — not editorial content.

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• Vaults
• DeFi
• TVL