What is Wrapped Bitcoin?
WBTCWrapped Bitcoin is an ERC-20 token on Ethereum backed one to one by bitcoin held by a custodian.
The tokenWBTC lets bitcoin be used in Ethereum applications; tokens are minted when bitcoin is deposited with the custodian and burned when it is redeemed.
Supply and what is still to come
How many coins exist, how many can, who holds the part not yet circulating and what the schedule releases.
- Circulating supply
- 116,132 WBTC
- Total supply
- 116,132 WBTCin existence, locked or not
- Maximum supply
- None fixedno fixed maximum
- Burned
- 0.01923 WBTCsent to addresses that can never spend
A year in the market
Measured on the daily closes of our own US dollar price index.
- Return, past year
- −27.0%daily closes
- Volatility, past year
- 44%annualised, daily log returns
- Deepest fall from a peak, past year
- −44.7%daily closes
- Below its all-time high
- −39.7%high of $124,646 on 6 Oct 2025
- Correlation with bitcoin
- 1.00daily returns, past year; 1 is lockstep
- Beta to bitcoin
- 1.00its usual move for a 1% move in bitcoin
Points to check
What our data shows that a holder should know. Each point is a measurement, not a rating.
- Price swings
Its daily moves were about as large as bitcoin's over the past year (volatility 44% against 44%).
- Moves with bitcoin
Its daily returns had a correlation of 1.00 with bitcoin's over the past year, so it has added little diversification to a bitcoin holding.
Questions
What is Wrapped Bitcoin?
Wrapped Bitcoin is an ERC-20 token on Ethereum backed one to one by bitcoin held by a custodian.
What is WBTC used for?
WBTC lets bitcoin be used in Ethereum applications; tokens are minted when bitcoin is deposited with the custodian and burned when it is redeemed.
Is Wrapped Bitcoin's supply capped?
No fixed maximum (no fixed maximum); the total supply today is 116,132 WBTC.
Supply from our own nodes or the project’s published figures, prices from our own indexes, listings from the exchanges’ own instrument lists. Last update