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Wrapped Bitcoin


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Market stats

Market cap


Volume (24h)


Circulating supply

160.4K WBTC

Typical hold time

12 days



All time high


Price change (1h)


Price change (24h)


Price change (7d)


About Wrapped Bitcoin

Wrapped Bitcoin (WBTC) is an Ethereum token that is intended to represent Bitcoin (BTC) on the Ethereum blockchain. It is not Bitcoin, but rather a separate ERC-20 token that’s designed to track Bitcoin’s value. WBTC was created to allow Bitcoin holders to participate in decentralized finance (“DeFi”) apps that are popular on Ethereum. Through a WBTC partner, 1 Bitcoin can be exchanged for 1 Wrapped Bitcoin, and vice-versa. The BTC that backs WBTC is verifiable through a “proof of reserve” system that verifies the 1:1 backing between minted WBTC tokens and Bitcoin stored by custodians. WBTC is maintained by a group called the WBTC DAO that consists of over 30 members. It was originally started by BitGo, Ren, and Kyber.

What is Wrapped Bitcoin?

Wrapped Bitcoin (WBTC) is a tokenized version of Bitcoin (BTC) that operates on the Ethereum (ETH) blockchain. It adheres to the ERC-20 standard, which is the basic compatibility standard of the Ethereum blockchain. This compatibility allows WBTC to be fully integrated into Ethereum's ecosystem, including decentralized exchanges, crypto lending services, prediction markets, and other ERC-20-enabled decentralized finance (DeFi) applications. WBTC is backed by Bitcoin at a 1:1 ratio through a network of automatically monitored merchants and custodians. This aims to ensure that its price is pegged to Bitcoin and allows users to transfer liquidity between the BTC and ETH networks in a decentralized and autonomous manner.

How does Wrapped Bitcoin work?

The creation of Wrapped Bitcoin brings Bitcoin into the world of Ethereum's DeFi ecosystem. When users want to convert BTC into WBTC, the to-be-converted BTC is held by a custodian, who participates in the actual minting and burning of Ethereum-based tokens. When WBTCs are burned, the user can reclaim their BTC balance from the custodian. During minting, users send BTC to the custodian for storage and receive an equivalent in WBTC tokens. The user who wants to swap between WBTC and BTC performs a trade to move funds to the merchant. Once finalized, the user can use their BTC/WBTC as they see fit. If WBTC is converted to BTC, the associated Wrapped Bitcoin balance will be destroyed through a burn transaction.

What are the potential use cases for Wrapped Bitcoin?

As Wrapped Bitcoin tokens adhere to the ERC-20 token standard, they can be used across the broader Ethereum ecosystem. This includes trading them on decentralized exchanges and exploring decentralized finance opportunities through protocols and platforms supporting WBTC. DeFi opportunities for WBTC range from lending and borrowing to yield farming, token swapping, and liquidity pools. Various protocols and platforms support Wrapped Bitcoin. Using WBTC as collateral for a crypto-backed loan can be an option for businesses. Additionally, WBTC holders may receive compensation from supplying liquidity. Another potential use case for WBTC is in margin trading, where Wrapped Bitcoin may be used to trade Ethereum, stablecoins, and other ERC-20 tokens.

What is the history of Wrapped Bitcoin?

Wrapped Bitcoin was first announced on October 26, 2018, and officially launched on January 31, 2019. The Wrapped Tokens project, of which WBTC is a part, is a joint project of three organizations: BitGo, Kyber Network, and Ren. BitGo, co-founded in 2013 by American computer scientist and entrepreneur Mike Belshe, is an institutional digital asset custody, trading, and financial services firm. Kyber Network is an on-blockchain liquidity protocol that enables the integration of different cryptocurrency tokens and DeFi applications. It was founded in 2017 by Loi Luu, Victor Tran, and Yaron Velner. Ren is a company focused on cross-blockchain integration of cryptocurrency assets and DeFi applications via solutions such as RenBridge, RenVM, and others. It was founded in 2017 by Taiyang Zhang and Loong Wang.


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Some highlights about Wrapped Bitcoin on social media

18 unique individuals are talking about Wrapped Bitcoin and it is ranked #432 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Wrapped Bitcoin has an average sentiment score of 1.4 out of 5. Finally, Wrapped Bitcoin is becoming more newsworthy, with 0 news articles published about Wrapped Bitcoin. This is a 0% increase in news volume compared to yesterday.

On Twitter, people are mostly neutral about Wrapped Bitcoin. There were 25% of tweets with bullish sentiment compared to 7.14% of tweets with a bearish sentiment about Wrapped Bitcoin. 67.86% of tweets were neutral about Wrapped Bitcoin. These sentiments are based on 28 tweets.

On Reddit, Wrapped Bitcoin was mentioned in 0 Reddit posts and there were 0 comments about Wrapped Bitcoin. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.

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18 people


41 posts



Volume rank


Average Sentiment

1.4 out of 5


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Wrapped Bitcoin is on the rise this week.

The price of Wrapped Bitcoin has risen by 9.41% in the past 7 days. The price increased by 3.49% in the last 24 hours. In just the past hour, the price grew by 0.88%. The current price is $40,774.34 per WBTC. Wrapped Bitcoin is 74.86% below the all time high of $162,188.26.

The current circulating supply is 160,386.26 WBTC.


What is the current price of Wrapped Bitcoin?

We update our Wrapped Bitcoin to USD currency in real-time. Get the live price of Wrapped Bitcoin on Coinbase.

What is the market cap of Wrapped Bitcoin?

The current market cap of Wrapped Bitcoin is $6.52B. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Wrapped Bitcoin?

The all-time high of Wrapped Bitcoin is $162,188.26. This all-time high is highest price paid for Wrapped Bitcoin since it was launched.

What is the 24 hour trading volume of Wrapped Bitcoin?

Over the last 24 hours, the trading volume of Wrapped Bitcoin is $119.52M.

What other assets are similar to Wrapped Bitcoin?

Assets that have a similar market cap to Wrapped Bitcoin include TRON, Wrapped TRON, Chainlink, and many others. To see a full list, see our comparable market cap assets.

How many Wrapped Bitcoin are there?

The current circulating supply of Wrapped Bitcoin is 160 thousand.

What is the typical holding time of Wrapped Bitcoin?

The median time that Coinbase customers hold Wrapped Bitcoin before selling it or sending it to another account or address is 12 days.

What is the relative popularity of Wrapped Bitcoin?

Wrapped Bitcoin ranks 116 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Wrapped Bitcoin?

Currently, 92% of Coinbase users are buying Wrapped Bitcoin. In other words, 92% of Coinbase customers have increased their net position in Wrapped Bitcoin over the past 24 hours through trading.

Can I buy Wrapped Bitcoin on Coinbase?

Yes, Wrapped Bitcoin is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Wrapped Bitcoin guide.

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