Charts

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

4 of 9 figures about LBTC · 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.

Supply

How much tokenized BTC exists and who issues it.

Wrapped BTC supply by issuer

How is tokenized BTC supply split between issuers, and how is that changing?

A line chart of outstanding wrapped BTC supply by issuer over time. WBTC is the largest named series; cbBTC, launched in late 2024, grew to nearly match it; BTCB, issued on BNB Chain, is a steady third; LBTC, SolvBTC, tBTC and uniBTC are smaller; every wrapper below about one percent of supply is aggregated into one series. Supply is netted of bridge escrow on the chains where escrow is measured and reported gross on the rest.
  1. Supply table: every wrapper, every chain

    Tokenized BTC supply totals 308,543 BTC across 22 wrappers.

Movement

Where it is minted, redeemed and bridged.

Net minting by issuer, monthly

Which issuers are minting wrapped BTC, and which are redeeming it?

A stacked column chart of net wrapped BTC minting by issuer, one bar per month. Bars above the zero line are net minting for the month; bars below are net redemption. cbBTC is the most active issuer in most months, in either direction. Complete months only.

Lending

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

Which wrapped BTC is posted as collateral

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

A stacked area chart of wrapped BTC posted as lending collateral, by wrapper, over time. cbBTC and WBTC together hold most of it; LBTC, tBTC and other wrappers are smaller. Covers only the venues indexed today: Aave v3, Morpho Blue and Spark.

Working on tokenized BTC?

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