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Wrapped Bitcoin

Wrapped Bitcoin

WBTC
$81,020.39Up 3.78 percent($2,954.44)

Key Stats

Market Cap$9.41BUp 3.78 percent
Volume (24h)$87.04M
Fully Diluted Value$9.41B
Vol/Mkt Cap (24h)0.93%
Total Supply116.13K WBTC
Max Supply∞
Circulating Supply116.13K WBTC
Launch Date2018-11-27
Built OnETH
Token StandardERC20
Smart Contract Address0x2260…c599
Decimal Places8

Wrapped Bitcoin Information

Websites
wbtc.networkWhitepaper
Industries
Wrapped Collateral
Parent Asset
BTC

Wrapped Bitcoin Price Converter

Wrapped BitcoinWBTC
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Latest Wrapped Bitcoin News

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Wrapped Bitcoin Markets

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InstrumentExchangeBenchmark DataPrice24h Change
Wrapped BitcoinBTC logo
WBTC-BTC
WBTCBTC
binance logobinance
AA
0.9995BTC
-0.03%
Wrapped BitcoinBTC logo
WBTC-BTC
WBTCBTC
bullish logobullish
AA
0.9994BTC
-0.02%
Wrapped BitcoinUSDT logo
WBTC-USDT
WBTCUSDT
binance logobinance
AA
81,041.70USDT
3.57%
Wrapped BitcoinUSDT logo
WBTC-USDT
WBTCUSDT_SPBL
bitget logobitget
BB
81,179.10USDT
4.10%
Wrapped BitcoinBTC logo
WBTC-BTC
WBTCBTC
bybit logobybit
A
0.9995BTC
-0.02%

Wrapped Bitcoin Supported Platforms

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Trading AsToken StandardBuilt OnSmart Contract AddressLaunch Date
WBTCERC20ETH0x2260fac5e5542a773aa44fbcfedf7c193bc2c5992018-11-27
WBTCERC20BASE0x1ceA84203673764244E05693e42E6Ace62bE9BA52023-10-30
WBTCERC20KAVA0xb5c4423a65B953905949548276654C96fcaE69922023-12-13
WBTCIBCOSMOosmo1z0qrq605sjgcqpylfl4aa6s90x738j7m58wyatt0tdzflg2ha26q67k7432023-09-29
WBTCTRC20TRXTXpw8XeWYeTUd4quDskoUqeQPowRh4jY652020-12-17

About Wrapped Bitcoin

Wrapped Bitcoin (WBTC) is an ERC20 token on Ethereum, backed 1:1 by Bitcoin (BTC). Launched in January 2019, it bridges Bitcoin's liquidity into Ethereum's ecosystem, enabling its use in decentralised applications (dApps), decentralised exchanges (DEXs), and DeFi protocols. WBTC tokens are fully backed by Bitcoin held securely by custodians, with all transactions and reserves transparently auditable on-chain. The wrapping process involves three stages: receiving, minting, and burning, ensuring seamless conversion between Bitcoin and WBTC. Initially created by BitGo, Kyber Network, and Ren, WBTC is governed by the WBTC DAO, a decentralised organisation overseeing merchants and custodians. WBTC is compatible with Ethereum wallets and dApps and supports cross-chain interoperability, being available on Ethereum, Base, Kava, and Osmosis. Its primary use cases include providing liquidity to DEXs, enabling DeFi participation, and facilitating Bitcoin's integration with smart contracts.

Frequently Asked Questions

Because of the 1:1 mapping with bitcoin, the WBTC price tends to track that of the larger cryptocurrency. It touched an all-time low of $3,139.17 on April 2, 2019, before climbing to a record-high price of $66,109.97 on Oct. 20, 2021, the same day as bitcoin.

Wrapped bitcoin uses smart contract functionality for bitcoin transfers to provide a way for bitcoin holders to access DeFi. In doing so, it brings the greater liquidity of the world’s largest cryptocurrency to the DeFi arena.

For new WBTC to be produced, or minted, a so-called merchant places a request with another party, the custodian. WBTC’s white paper specifies that the merchant sends bitcoin to the custodian, which mints the WBTC and sends it to the merchant’s wallet on the Ethereum blockchain. The merchant can then swap the wrapped bitcoin with an end user in exchange for the equivalent amount of bitcoin. Merchants are responsible for carrying out know-your-customer and anti-money laundering processes with the end users.

Custodians are the institutions that hold the backing bitcoin and mint the token. For WBTC, BitGo is the sole custodian as of October 2021. The founding merchants were Kyber Network and Ren, though others have now joined. In June 2021, it was reported that more than 1% of bitcoin was held in wrapped bitcoin tokens.

Removing WBTC from circulation – for example, when a user wants to convert WBTC back to bitcoin – is accomplished through burning, a process that can be carried out only by a merchant. The merchant calls the “burn” function in the governing contract, and its WBTC balance is reduced. The custodian is then free to release the held bitcoins to the merchant, who can reimburse the end user.

Proof of assets is shown on the protocol’s web page.

Wrapped bitcoin was announced in October 2018 and officially launched in January 2019. It was developed by BitGo, Kyber Network, and Ren, who retain their roles in the protocol.

The network is managed by a decentralized autonomous organization (DAO), which votes on adding or removing custodians and merchants. Current members of the DAO are listed on the website.

Wrapped bitcoin was released for the Tron blockchain in January 2021.