# Which wrapped BTC is posted as collateral

**Question.** Which wrapper do borrowers actually pledge, and is that changing?

**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%. The three largest account for 98.4%.

## Latest values (26 Sep 2026)

| Date | Value |
| --- | ---: |
| cbBTC | 74,304 BTC |
| WBTC | 40,413 BTC |
| LBTC | 5,315 BTC |
| tBTC | 1,691 BTC |
| Other wrappers | 225.4 BTC |

## Data

- Source: Aave v3, Morpho Blue, Spark — Onchain BTC Research
- Coverage: `sample` (see the methodology for what this covers)
- Data through: 2026-09-26
- Series as plotted (CSV): /charts/collateral-by-wrapper/data.csv
- Series as plotted (JSON): /charts/collateral-by-wrapper/data.json
- Page: /charts/collateral-by-wrapper

Observations are sampled to the chart's display resolution over the full window, not the underlying daily grain.

- Methodology: /methodology