Charts

The data pillar as a library of figures, sectioned by the question each answers.

3 of 9 figures about Base · Show all

Tokenized BTC outstanding
≈ 308.5k BTC
Last reported balance of every issuer in the library, summed.
Sits on Ethereum
55%
Share of wrapped supply attributed to a single chain.
Held by two venues
77%
Share of covered lending collateral at the top two venues.
Inside lending markets
45%
Balances held by lending protocol contracts — supplied liquidity and posted collateral.

Movement

Where it is minted, redeemed and bridged.

Where wrapped BTC sits, by chain

Which chains hold tokenized BTC, and how concentrated is that distribution?

A stacked area chart of wrapped BTC supply by chain over time. Ethereum holds the largest share throughout; BNB Chain is second, almost entirely BTCB; Base rises to third; Arbitrum is a distant fourth, followed by Arc; Avalanche, Monad and Ink are named but small; Optimism, MegaETH and Etherlink are aggregated into one remainder series.

Lending

How much is posted as collateral, where, and in what form.

Wrapped BTC posted as lending collateral

Which lending venues actually hold wrapped BTC as collateral?

A ranked bar chart of wrapped BTC posted as collateral, by lending venue and chain. Aave v3 on Ethereum is the largest, followed by Morpho Blue on Base and on Ethereum, then Spark on Ethereum and Aave v3 on Base. Collateral is de-duplicated per position and market, and covers only the venues indexed today.

Working on tokenized BTC?

Commissioned research, measurement design and review on wrapped-BTC market structure.