Wrapped Bitcoin (WBTC) is a groundbreaking digital asset that bridges the gap between Bitcoin’s unmatched value and Ethereum’s expansive decentralized ecosystem. As one of the most widely adopted wrapped tokens, WBTC enables Bitcoin holders to participate in Ethereum-based decentralized finance (DeFi) applications while maintaining a 1:1 peg with BTC. This article dives deep into WBTC’s price dynamics, supply structure, market presence, and technological foundation, offering valuable insights for investors and crypto enthusiasts alike.
What Is Wrapped BTC?
Wrapped BTC (WBTC) is an ERC-20 token built on the Ethereum blockchain that mirrors the value of Bitcoin (BTC) at a 1:1 ratio. Each WBTC in circulation is fully backed by one actual Bitcoin held in reserve by trusted custodians. The system operates under a decentralized autonomous organization (DAO), currently composed of over 30 members, including major players in the crypto space such as BitGo, Kyber Network, and Ren.
This innovative structure allows users to bring Bitcoin — the most liquid and valuable cryptocurrency — into Ethereum’s DeFi ecosystem. With WBTC, users can earn yield through lending platforms, provide liquidity on decentralized exchanges (DEXs), or use it as collateral in various protocols, all without selling their underlying BTC.
👉 Discover how WBTC unlocks new financial opportunities across blockchains.
Supply Overview
One of the most transparent aspects of WBTC is its verified supply data. Unlike some tokens with ambiguous issuance models, WBTC’s circulating and total supply are identical and fully backed by real Bitcoin reserves.
- Circulating supply: 142,133 WBTC
- Total supply: 142,133 WBTC
- Maximum supply: 3,072 WBTC
Note: The max supply figure appears inconsistent with current totals; this may reflect early documentation quirks. In practice, WBTC issuance scales with demand, constrained only by available BTC collateral.
All WBTC tokens in circulation are auditable on-chain, ensuring transparency and trust. The "verified supply" label confirms that these figures have been validated through blockchain analysis and custodial audits.
Market Performance & Key Metrics
WBTC holds a prominent position in the cryptocurrency market, consistently ranking among the top assets by market capitalization.
- Market Cap: $15.46 billion
- Trading Volume (24h): $255.70 million
- Volume / Market Cap Ratio: 0.0165 — indicating stable, long-term holding patterns
- Fully Diluted Valuation (FDV): $334.25 million
Despite being a derivative asset, WBTC maintains strong trading volume across centralized and decentralized exchanges. Its price closely tracks Bitcoin, typically trading at $0.999 BTC per WBTC, reflecting high peg stability.
The asset reached its all-time high of $111,694.81 on May 22, 2025 — aligning with Bitcoin’s peak during that period — and remains within 2.59% of that level.
WBTC is listed on 53 exchanges, providing broad accessibility to traders worldwide.
Where to Trade WBTC?
WBTC is actively traded across multiple platforms, both centralized and decentralized. Here are some of the most liquid markets:
- WBTC/WETH on Uniswap v3 (Arbitrum) – $43.38 million 24h volume
- WBTC/CBBTC on Uniswap v3 (Ethereum) – $25.88 million
- WBTC/USDC on Uniswap v3 (Ethereum) – $23.59 million
- WBTC/WETH on Uniswap v3 (Ethereum) – $11.84 million
- WBTC/USDT on Binance – $13.09 million
These pairs illustrate WBTC’s integration into both Layer 2 scaling solutions like Arbitrum and mainstream DEXs like Uniswap, as well as major centralized platforms like Binance.
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Supported Blockchains & Contract Addresses
WBTC isn’t limited to Ethereum — it has been deployed across multiple blockchains to enhance interoperability and reduce transaction costs.
Mainnet Deployments:
- Ethereum:
0x2260fac5e5542a773aa44fbcfedf7c193bc2c599 - BNB Smart Chain:
0x0555e30da8f98308edb960aa94c0db47230d2b9c - Fantom:
0x321162Cd933E2Be498Cd2267a90534A804051b11
Each contract address is verified and publicly accessible via blockchain explorers like Etherscan and BscScan, allowing users to verify balances and transaction histories independently.
Core Keywords in Context
To align with search intent and improve SEO performance, here are the core keywords naturally integrated throughout this article:
- Wrapped BTC – The primary subject, representing a tokenized version of Bitcoin.
- WBTC price – Frequently searched term tied to real-time valuation.
- WBTC chart – Reflects user interest in historical performance and technical analysis.
- WBTC supply – Highlights transparency and tokenomics.
- WBTC Ethereum – Emphasizes cross-chain functionality.
- WBTC DeFi – Connects WBTC to yield-generating use cases.
- WBTC trading volume – Indicates market activity and liquidity.
- WBTC contract address – Critical for security-conscious users.
These terms appear organically within headings and body text to support discoverability without compromising readability.
Frequently Asked Questions
What is the difference between BTC and WBTC?
BTC is native to the Bitcoin blockchain, while WBTC is an Ethereum-based token representing Bitcoin. WBTC allows BTC holders to engage with DeFi apps like lending platforms and DEXs without leaving the Ethereum network.
Is WBTC backed 1:1 by real Bitcoin?
Yes. Every WBTC token is fully backed by one Bitcoin held in custody by approved institutions like BitGo. Regular audits ensure transparency and reserve accuracy.
Can I convert WBTC back to BTC?
Absolutely. Through official merchant portals or supported DeFi platforms, users can redeem WBTC for native BTC at any time, subject to network fees and verification processes.
Why does WBTC matter in DeFi?
WBTC brings Bitcoin’s liquidity into Ethereum’s DeFi ecosystem. It’s widely used as collateral on platforms like Aave and Compound and is a top trading pair on Uniswap and Curve.
Is WBTC safe to use?
WBTC is considered secure due to its transparent custodial model, multi-signature governance, and regular audits. However, users should always verify contract addresses and use trusted wallets.
How is WBTC different from other wrapped tokens?
While similar in concept to other wrapped assets (e.g., wETH), WBTC uniquely bridges the largest cryptocurrency (BTC) with the largest smart contract platform (Ethereum), making it foundational to cross-chain finance.
👉 Learn how WBTC powers next-generation DeFi strategies today.
Final Thoughts
Wrapped BTC stands as a cornerstone of cross-chain interoperability, enabling Bitcoin — a traditionally inert store of value — to generate yield, provide liquidity, and fuel innovation in DeFi. With transparent reserves, robust exchange support, and growing adoption across Layer 2 networks, WBTC continues to play a vital role in shaping the future of decentralized finance.
Whether you're a long-term holder looking to leverage your BTC or a trader seeking exposure to Bitcoin within Ethereum’s ecosystem, WBTC offers a secure, reliable, and efficient solution.