Onchain BTC Research

What holds wrapped BTC

Is tokenized BTC being used, or is it sitting still?

ChartTable
Holder type against each series, in percent.
Holder typeLending marketsIdle wallet balancesCustody, vaults & exchangesBridge escrowDEX liquidityOther contracts
Share of supply45%35%2.9%4.7%2.5%10%

The largest share of wrapped BTC balances by holder type is Lending markets at 45.3%, followed by Idle wallet balances at 34.6%. The three largest account for 89.9%.

Shares are of balances counted gross: a bridged token is held in escrow on the chain it left and held again on the chain where it was minted, so it is counted twice — once as bridge escrow. Supply charts count it once, so the base here is larger than total supply.

Source: Onchain balances and contract labels — Onchain BTC ResearchMethodology

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