{"chart":{"id":"collateral-by-wrapper","slug":"collateral-by-wrapper","title":"Which wrapped BTC is posted as collateral","question":"Which wrapper do borrowers actually pledge, and is that changing?","category":"lending","source":"Aave v3, Morpho Blue, Spark — Onchain BTC Research","dataQuality":"sample","methodology":"/methodology"},"answer":"Wrapped BTC posted as lending collateral totals 121,949 BTC across 5 wrappers. The largest is cbBTC at 60.9%, followed by WBTC at 33.1%. 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