If you are pricing a Bitcoin-backed loan in June 2026, here is where rates actually sit, what moves them, and how to read the numbers before you borrow.
The short version: the average all-in rate for a standard $100,000 loan at 50% LTV is about 10.46% APR across the six US lenders we track, with the cheapest at 8.75% and the most expensive at 11.49%. But that single number hides the part that matters most: your rate depends on how much you borrow and at what LTV, so we show three scenarios below. For the live, weekly-updated picture, the BoB Bitcoin Loan Rate Index is the source.
The headline: $100,000 at 50% LTV
This is the index scenario, a like-for-like comparison of what a $100,000 borrower at 50% LTV would actually be quoted, using the effective APR including any origination fee.
| Lender | All-in APR (June 2026) |
|---|---|
| SALT | 8.75% |
| Figure | 10.00% |
| Arch | 10.49% |
| APX Lending | 10.99% |
| Strike | 11.02% |
| Ledn | 11.49% |
Average 10.46% · median 10.74% · range 8.75% to 11.49%. The cheapest options sit within a couple of points of each other, which is why the sticker rate is rarely the deciding factor. Custody, rehypothecation, and the lender's track record move the real cost and risk more than a fraction of a point on the headline. We cover that in how to choose a lender.
Your rate is not one number
The same six lenders quote very different rates depending on the loan. Two examples from June 2026, each changing one thing from the headline scenario.
Borrow more: $250,000 at 50% LTV
Several lenders price by loan size, so borrowing more earns a volume discount.
| Lender | All-in APR (June 2026) |
|---|---|
| SALT | 8.75% |
| Arch | 9.99% |
| Figure | 10.00% |
| Strike | 10.47% |
| Ledn | 10.99% |
| APX Lending | 10.99% |
Average 10.20%, down from 10.46% at $100,000. Arch, Strike, and Ledn all step down a tier at the larger size; the lenders that price by LTV instead of amount (SALT, Figure) do not move.
Borrow safer: $100,000 at 30% LTV
A lower LTV means you pledge more Bitcoin per dollar borrowed. For lenders that price by LTV, that earns a better rate, and it leaves far more cushion before a margin call.
| Lender | All-in APR (June 2026) |
|---|---|
| SALT | 7.49% |
| Figure | 10.00% |
| Arch | 10.49% |
| APX Lending | 10.99% |
| Strike | 11.02% |
| Ledn | 11.49% |
The cheapest rate drops to 7.49% (SALT, which prices by LTV), versus 8.75% at 50% LTV. The lenders that price by loan amount do not change with LTV, so the average barely moves; the win here is the low end and the bigger safety margin.
The takeaway across all three: the rate you are quoted is a function of loan size and LTV, not a single market number. Model your own numbers with the loan calculator before you commit.
How to read these rates
- Use the effective APR. Every figure above is the all-in cost including mandatory origination fees, not the advertised rate. That is the only number that compares lenders fairly. See hidden fees for what the headline rate leaves out.
- Lower LTV is cheaper and safer. Borrowing well below the cap earns better pricing from some lenders and protects you from a forced sale if Bitcoin falls.
- Cheapest is not always best. Weigh custody, rehypothecation, and track record alongside rate. A lender that re-lends your collateral or has no operating history is a different risk than one that does not, even at the same APR.
This is a monthly snapshot
These are June 2026 figures, captured from our weekly tracking. Rates change, so for the current week always check the live BoB Bitcoin Loan Rate Index, and you can download the full rate history as CSV or JSON from our data page. We publish an updated rates report each month.
borrow/on/bitcoin is a comparison publisher, not a lender. Nothing here is a recommendation of one provider over another, and nothing here is financial advice. Verify all rates and terms directly with the lender before borrowing.