Bitget Protection Fund averages $382M in August amid Bitcoin rally

Bitget reported that its Protection Fund reached an average valuation of $382 million during August 2026. The fund's value fluctuated throughout the month, hitting a low of $345.3 million on August 1 and a high of $441.5 million on August 27.

The increase in the fund's U.S. dollar valuation was driven by a Bitcoin rally in the second half of the month. Bitcoin prices rose from approximately $62,773 at the start of August to a month-end price of $78,553, representing an increase of over 25%. Bitget's reserves include 5,500 BTC, which helped the fund end the month at approximately $432 million.

Established in 2022, the Protection Fund is designed to safeguard user assets during extreme market volatility. Bitget CEO Gracy Chen stated that as the ecosystem expands, user protection and transparency must scale accordingly, noting that maintaining visible on-chain reserves is essential for building platform trust.