Which wrapped BTC is posted as collateral
Which wrapper do borrowers actually pledge, and is that changing?
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%.
Source: Aave v3, Morpho Blue, Spark — Onchain BTC ResearchMethodology
View underlying data
| Date | cbBTC | WBTC | LBTC | tBTC | Other wrappers |
|---|---|---|---|---|---|
| 2026-01-01 | 56.8k BTC | 46.1k BTC | 5.9k BTC | 1.7k BTC | 523 BTC |
| 2026-01-03 | 56.8k BTC | 46.1k BTC | 5.9k BTC | 1.7k BTC | 523 BTC |
| 2026-01-05 | 57.1k BTC | 46.1k BTC | 5.9k BTC | 1.8k BTC | 483 BTC |
| 2026-01-07 | 57.6k BTC | 46.2k BTC | 5.9k BTC | 1.8k BTC | 483 BTC |
| 2026-01-09 | 58.0k BTC | 46.2k BTC | 6.2k BTC | 1.8k BTC | 483 BTC |
| 2026-01-11 | 58.0k BTC | 46.2k BTC | 6.2k BTC | 1.8k BTC | 483 BTC |
| 2026-01-13 | 57.6k BTC | 46.4k BTC | 6.2k BTC | 1.8k BTC | 483 BTC |
| 2026-01-15 | 57.9k BTC | 46.3k BTC | 6.2k BTC | 1.8k BTC | 559 BTC |
| 2026-01-17 | 58.1k BTC | 46.3k BTC | 6.2k BTC | 1.8k BTC | 559 BTC |
| 2026-01-19 | 58.5k BTC | 46.4k BTC | 6.2k BTC | 1.8k BTC | 559 BTC |
| 2026-01-21 | 58.1k BTC | 46.3k BTC | 6.2k BTC | 1.8k BTC | 559 BTC |
| 2026-01-23 | 58.8k BTC | 46.5k BTC | 6.1k BTC | 1.8k BTC | 559 BTC |
| 2026-01-25 | 59.6k BTC | 46.2k BTC | 6.1k BTC | 1.8k BTC | 519 BTC |
| 2026-01-27 | 60.1k BTC | 45.5k BTC | 6.3k BTC | 1.9k BTC | 519 BTC |
| 2026-01-29 | 61.0k BTC | 45.9k BTC | 7.1k BTC | 1.9k BTC | 517 BTC |
| 2026-01-31 | 58.9k BTC | 45.4k BTC | 7.1k BTC | 1.8k BTC | 517 BTC |
| 2026-02-02 | 59.6k BTC | 45.0k BTC | 7.2k BTC | 1.8k BTC | 339 BTC |
| 2026-02-04 | 61.5k BTC | 44.6k BTC | 7.3k BTC | 1.8k BTC | 609 BTC |
| 2026-02-06 | 65.2k BTC | 44.8k BTC | 7.4k BTC | 1.9k BTC | 607 BTC |
| 2026-02-08 | 65.6k BTC | 44.7k BTC | 7.4k BTC | 1.9k BTC | 705 BTC |
| 2026-02-10 | 65.6k BTC | 44.7k BTC | 7.0k BTC | 1.9k BTC | 765 BTC |
| 2026-02-12 | 67.4k BTC | 44.9k BTC | 6.7k BTC | 1.9k BTC | 730 BTC |
| 2026-02-14 | 67.2k BTC | 44.8k BTC | 6.7k BTC | 1.9k BTC | 727 BTC |
| 2026-02-16 | 67.3k BTC | 44.9k BTC | 6.6k BTC | 1.9k BTC | 727 BTC |
| 2026-02-18 | 67.8k BTC | 44.9k BTC | 6.4k BTC | 1.8k BTC | 727 BTC |
| 2026-02-20 | 67.5k BTC | 44.1k BTC | 6.2k BTC | 1.8k BTC | 727 BTC |
| 2026-02-22 | 66.9k BTC | 43.9k BTC | 6.1k BTC | 1.8k BTC | 727 BTC |
| 2026-02-24 | 67.3k BTC | 43.6k BTC | 6.2k BTC | 1.8k BTC | 653 BTC |
| 2026-02-26 | 65.8k BTC | 43.7k BTC | 6.3k BTC | 1.8k BTC | 653 BTC |
| 2026-02-28 | 66.0k BTC | 43.9k BTC | 6.3k BTC | 1.8k BTC | 653 BTC |
| 2026-03-02 | 65.7k BTC | 43.7k BTC | 6.3k BTC | 1.8k BTC | 653 BTC |
| 2026-03-04 | 65.4k BTC | 43.8k BTC | 6.5k BTC | 1.8k BTC | 653 BTC |
| 2026-03-06 | 65.6k BTC | 43.5k BTC | 6.3k BTC | 1.8k BTC | 603 BTC |
| 2026-03-08 | 65.9k BTC | 43.5k BTC | 6.3k BTC | 1.8k BTC | 603 BTC |
| 2026-03-10 | 66.1k BTC | 44.0k BTC | 6.2k BTC | 1.9k BTC | 603 BTC |
| 2026-03-12 | 66.1k BTC | 43.9k BTC | 6.2k BTC | 1.8k BTC | 603 BTC |
| 2026-03-14 | 65.9k BTC | 43.9k BTC | 6.2k BTC | 1.9k BTC | 603 BTC |
| 2026-03-16 | 65.3k BTC | 44.0k BTC | 6.2k BTC | 1.9k BTC | 489 BTC |
| 2026-03-18 | 65.6k BTC | 44.1k BTC | 6.2k BTC | 1.9k BTC | 489 BTC |
| 2026-03-20 | 65.7k BTC | 43.3k BTC | 5.9k BTC | 1.9k BTC | 349 BTC |
| 2026-03-22 | 65.7k BTC | 43.3k BTC | 6.0k BTC | 1.9k BTC | 349 BTC |
| 2026-03-24 | 65.8k BTC | 43.4k BTC | 5.9k BTC | 2.0k BTC | 324 BTC |
| 2026-03-26 | 66.1k BTC | 43.4k BTC | 6.0k BTC | 2.0k BTC | 404 BTC |
| 2026-03-28 | 66.9k BTC | 43.6k BTC | 6.1k BTC | 2.1k BTC | 404 BTC |
| 2026-03-30 | 63.5k BTC | 43.6k BTC | 6.0k BTC | 2.1k BTC | 404 BTC |
| 2026-04-01 | 66.9k BTC | 43.5k BTC | 6.0k BTC | 2.2k BTC | 400 BTC |
| 2026-04-03 | 66.4k BTC | 43.9k BTC | 6.0k BTC | 2.2k BTC | 369 BTC |
| 2026-04-05 | 66.5k BTC | 43.8k BTC | 5.9k BTC | 2.3k BTC | 401 BTC |
| 2026-04-07 | 66.7k BTC | 43.7k BTC | 5.8k BTC | 2.4k BTC | 401 BTC |
| 2026-04-09 | 66.5k BTC | 43.5k BTC | 5.6k BTC | 2.4k BTC | 401 BTC |
| 2026-04-11 | 66.1k BTC | 43.3k BTC | 5.7k BTC | 2.4k BTC | 401 BTC |
| 2026-04-13 | 66.5k BTC | 43.1k BTC | 5.6k BTC | 2.4k BTC | 401 BTC |
| 2026-04-15 | 66.7k BTC | 43.2k BTC | 5.5k BTC | 2.4k BTC | 401 BTC |
| 2026-04-17 | 66.2k BTC | 43.1k BTC | 5.8k BTC | 2.4k BTC | 401 BTC |
| 2026-04-19 | 52.6k BTC | 38.2k BTC | 5.4k BTC | 2.2k BTC | 401 BTC |
| 2026-04-21 | 52.9k BTC | 36.8k BTC | 5.6k BTC | 2.1k BTC | 400 BTC |
| 2026-04-23 | 53.5k BTC | 36.1k BTC | 5.5k BTC | 2.1k BTC | 398 BTC |
| 2026-04-25 | 53.6k BTC | 36.1k BTC | 5.5k BTC | 2.1k BTC | 395 BTC |
| 2026-04-27 | 53.1k BTC | 36.1k BTC | 5.5k BTC | 2.1k BTC | 394 BTC |
| 2026-04-29 | 53.7k BTC | 35.8k BTC | 5.5k BTC | 2.0k BTC | 394 BTC |
| 2026-05-01 | 53.2k BTC | 36.2k BTC | 5.5k BTC | 2.0k BTC | 394 BTC |
| 2026-05-03 | 53.1k BTC | 36.4k BTC | 5.5k BTC | 2.0k BTC | 394 BTC |
| 2026-05-05 | 52.9k BTC | 36.4k BTC | 5.6k BTC | 2.0k BTC | 294 BTC |
| 2026-05-07 | 53.3k BTC | 36.4k BTC | 5.6k BTC | 1.9k BTC | 290 BTC |
| 2026-05-09 | 57.3k BTC | 36.4k BTC | 5.5k BTC | 1.9k BTC | 290 BTC |
| 2026-05-11 | 58.2k BTC | 36.5k BTC | 5.8k BTC | 1.9k BTC | 265 BTC |
| 2026-05-13 | 57.7k BTC | 36.6k BTC | 5.8k BTC | 1.9k BTC | 265 BTC |
| 2026-05-15 | 57.8k BTC | 36.6k BTC | 6.0k BTC | 1.9k BTC | 172 BTC |
| 2026-05-17 | 57.8k BTC | 36.7k BTC | 5.4k BTC | 1.9k BTC | 172 BTC |
| 2026-05-19 | 59.0k BTC | 36.9k BTC | 5.8k BTC | 1.9k BTC | 172 BTC |
| 2026-05-21 | 59.0k BTC | 37.1k BTC | 5.8k BTC | 1.9k BTC | 172 BTC |
| 2026-05-23 | 59.1k BTC | 37.2k BTC | 5.8k BTC | 1.9k BTC | 172 BTC |
| 2026-05-25 | 59.4k BTC | 37.2k BTC | 5.4k BTC | 2.0k BTC | 172 BTC |
| 2026-05-27 | 59.7k BTC | 37.0k BTC | 5.4k BTC | 2.0k BTC | 172 BTC |
| 2026-05-29 | 62.3k BTC | 37.4k BTC | 5.6k BTC | 2.0k BTC | 189 BTC |
| 2026-05-31 | 62.3k BTC | 37.5k BTC | 5.7k BTC | 2.0k BTC | 203 BTC |
| 2026-06-02 | 63.9k BTC | 37.1k BTC | 5.7k BTC | 2.0k BTC | 215 BTC |
| 2026-06-04 | 63.1k BTC | 37.9k BTC | 6.2k BTC | 1.9k BTC | 216 BTC |
| 2026-06-06 | 62.1k BTC | 37.5k BTC | 6.2k BTC | 1.9k BTC | 216 BTC |
| 2026-06-08 | 62.3k BTC | 37.4k BTC | 6.3k BTC | 2.0k BTC | 216 BTC |
| 2026-06-10 | 62.5k BTC | 37.1k BTC | 6.3k BTC | 2.0k BTC | 216 BTC |
| 2026-06-12 | 62.4k BTC | 37.8k BTC | 6.3k BTC | 2.0k BTC | 216 BTC |
| 2026-06-14 | 62.6k BTC | 38.1k BTC | 6.3k BTC | 2.0k BTC | 216 BTC |
| 2026-06-16 | 61.7k BTC | 38.2k BTC | 6.4k BTC | 2.0k BTC | 216 BTC |
| 2026-06-18 | 62.1k BTC | 38.3k BTC | 6.4k BTC | 2.0k BTC | 215 BTC |
| 2026-06-20 | 62.0k BTC | 38.6k BTC | 6.4k BTC | 2.0k BTC | 217 BTC |
| 2026-06-22 | 62.4k BTC | 38.5k BTC | 6.4k BTC | 2.0k BTC | 217 BTC |
| 2026-06-24 | 63.5k BTC | 38.5k BTC | 6.4k BTC | 2.0k BTC | 215 BTC |
| 2026-06-26 | 67.0k BTC | 38.2k BTC | 6.4k BTC | 2.0k BTC | 218 BTC |
| 2026-06-28 | 67.2k BTC | 38.3k BTC | 6.4k BTC | 2.0k BTC | 217 BTC |
| 2026-06-30 | 67.4k BTC | 38.5k BTC | 6.3k BTC | 2.0k BTC | 217 BTC |
| 2026-07-02 | 68.9k BTC | 38.5k BTC | 6.3k BTC | 2.0k BTC | 217 BTC |
| 2026-07-04 | 69.2k BTC | 38.9k BTC | 6.3k BTC | 2.0k BTC | 217 BTC |
| 2026-07-06 | 68.5k BTC | 38.8k BTC | 6.3k BTC | 2.1k BTC | 217 BTC |
| 2026-07-08 | 68.7k BTC | 38.7k BTC | 6.3k BTC | 2.1k BTC | 218 BTC |
| 2026-07-10 | 68.4k BTC | 38.6k BTC | 6.3k BTC | 2.1k BTC | 218 BTC |
| 2026-07-12 | 68.4k BTC | 38.6k BTC | 6.3k BTC | 2.1k BTC | 218 BTC |
| 2026-07-14 | 69.1k BTC | 38.6k BTC | 6.3k BTC | 2.1k BTC | 220 BTC |
| 2026-07-16 | 69.7k BTC | 38.3k BTC | 6.3k BTC | 2.1k BTC | 220 BTC |
| 2026-07-18 | 69.8k BTC | 38.4k BTC | 6.3k BTC | 2.1k BTC | 220 BTC |
| 2026-07-20 | 70.3k BTC | 38.5k BTC | 6.3k BTC | 2.1k BTC | 200 BTC |
| 2026-07-22 | 69.3k BTC | 39.1k BTC | 6.3k BTC | 2.1k BTC | 220 BTC |
| 2026-07-24 | 70.1k BTC | 39.5k BTC | 6.3k BTC | 2.1k BTC | 220 BTC |
| 2026-07-26 | 70.5k BTC | 39.5k BTC | 6.3k BTC | 2.1k BTC | 220 BTC |
| 2026-07-28 | 71.3k BTC | 39.8k BTC | 6.3k BTC | 2.1k BTC | 231 BTC |
| 2026-07-30 | 70.7k BTC | 39.7k BTC | 6.3k BTC | 2.1k BTC | 231 BTC |
| 2026-08-01 | 70.9k BTC | 40.1k BTC | 6.3k BTC | 2.1k BTC | 231 BTC |
| 2026-08-03 | 71.5k BTC | 40.3k BTC | 6.4k BTC | 2.1k BTC | 231 BTC |
| 2026-08-05 | 71.5k BTC | 40.2k BTC | 6.0k BTC | 2.1k BTC | 236 BTC |
| 2026-08-07 | 71.5k BTC | 40.2k BTC | 5.9k BTC | 2.1k BTC | 276 BTC |
| 2026-08-09 | 71.6k BTC | 40.3k BTC | 6.0k BTC | 1.8k BTC | 276 BTC |
| 2026-08-11 | 71.1k BTC | 40.5k BTC | 6.0k BTC | 1.8k BTC | 272 BTC |
| 2026-08-13 | 70.6k BTC | 40.8k BTC | 6.0k BTC | 1.8k BTC | 272 BTC |
| 2026-08-15 | 71.5k BTC | 40.9k BTC | 6.1k BTC | 1.8k BTC | 258 BTC |
| 2026-08-17 | 71.6k BTC | 41.0k BTC | 6.0k BTC | 1.8k BTC | 262 BTC |
| 2026-08-19 | 72.3k BTC | 41.1k BTC | 6.1k BTC | 1.8k BTC | 262 BTC |
| 2026-08-21 | 72.9k BTC | 40.1k BTC | 6.0k BTC | 1.8k BTC | 253 BTC |
| 2026-08-23 | 73.1k BTC | 39.2k BTC | 6.0k BTC | 1.8k BTC | 253 BTC |
| 2026-08-25 | 73.1k BTC | 39.2k BTC | 6.0k BTC | 1.8k BTC | 259 BTC |
| 2026-08-27 | 73.2k BTC | 39.0k BTC | 6.0k BTC | 1.8k BTC | 265 BTC |
| 2026-08-29 | 72.0k BTC | 39.2k BTC | 6.0k BTC | 1.8k BTC | 266 BTC |
| 2026-08-31 | 72.2k BTC | 39.1k BTC | 5.8k BTC | 1.8k BTC | 266 BTC |
| 2026-09-02 | 72.0k BTC | 39.1k BTC | 5.8k BTC | 1.8k BTC | 266 BTC |
| 2026-09-04 | 73.2k BTC | 39.2k BTC | 5.8k BTC | 1.8k BTC | 266 BTC |
| 2026-09-06 | 72.3k BTC | 39.2k BTC | 5.8k BTC | 1.8k BTC | 266 BTC |
| 2026-09-08 | 72.4k BTC | 39.3k BTC | 5.8k BTC | 1.8k BTC | 237 BTC |
| 2026-09-10 | 72.6k BTC | 39.5k BTC | 5.6k BTC | 1.8k BTC | 226 BTC |
| 2026-09-12 | 72.9k BTC | 39.6k BTC | 5.6k BTC | 1.8k BTC | 225 BTC |
| 2026-09-14 | 73.4k BTC | 39.7k BTC | 5.6k BTC | 1.8k BTC | 225 BTC |
| 2026-09-16 | 74.5k BTC | 39.9k BTC | 5.6k BTC | 1.8k BTC | 225 BTC |
| 2026-09-18 | 75.2k BTC | 40.2k BTC | 5.5k BTC | 1.8k BTC | 225 BTC |
| 2026-09-20 | 75.4k BTC | 40.3k BTC | 5.5k BTC | 1.8k BTC | 225 BTC |
| 2026-09-22 | 74.9k BTC | 40.4k BTC | 5.4k BTC | 1.7k BTC | 225 BTC |
| 2026-09-24 | 76.0k BTC | 40.4k BTC | 5.4k BTC | 1.7k BTC | 225 BTC |
| 2026-09-26 | 74.3k BTC | 40.4k BTC | 5.3k BTC | 1.7k BTC | 225 BTC |
Also as: share of total
Related
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