Wrapped BTC

What wrapped bitcoin is

Wrapped BTC is a token on another network that is meant to be worth 1 BTC. The real BTC stay at an address controlled by a custodian or a protocol, and the token is the claim on them. When the token changes hands, no coins move on the Bitcoin network. It is not Bitcoin itself but a promise, and how good it is depends on who issues it.

How much wrapped BTC is in the tracker

The “DeFi / wrapped” category holds 375,519 BTC across 16 entries: 1.79% of 21 million and 8.92% of all tracked holdings. For comparison, funds (mostly ETFs) in the same tracker hold 1,504,653 BTC. The category mixes tokens with other entries such as Casascius Coins and Lightning public channels.

Source: bitcointreasuries.net, 22 Oct 2026, 13:35 London.

Why different sites show different numbers

A tracker counts BTC at known addresses at the time of its own update. Issuers publish token supply per network and reserves on their own pages, at another time and by their own method. To check a figure, open the primary source: WBTC transparency ↗ · cbBTC proof of reserves ↗. We do not copy their numbers here so as not to show stale ones.

Wrapped BTC vs Bitcoin

• Custody risk: a third party holds the BTC, not you.
• Smart-contract risk: the token lives in code, and a bug can cost money.
• No self-custody: you hold no private keys to the BTC underneath the token.
• Redemption depends on the issuer's rules (identity checks, fees, timing).
• The token's market price can differ from the price of BTC.

This lists kinds of risk; it is not a safety rating of any specific token.

How to hold real Bitcoin

To keep coins under your own control you need your own keys: wallets · learn · all holders · stablecoins on Bitcoin. Not investment advice.

FAQ

What is wrapped BTC?

A token on another blockchain (for example Ethereum) that is meant to be worth one BTC. The real BTC sit with a custodian or in a protocol, and the token is the claim on them.

Is WBTC real Bitcoin?

No. It is a token. What backs it depends on the custodian, a smart contract and the issuer's rules, not on the Bitcoin network.

How much WBTC exists?

Per the bitcointreasuries.net tracker: 116,150 BTC held against WBTC tokens (as of 22 Oct 2026, 13:35 London). The issuer's own figure can differ: see its transparency page.

WBTC vs cbBTC?

Different issuers and custodians, different networks and redemption rules. Each token's terms are in its issuer's documentation; we do not rank their safety.

Can I redeem wrapped BTC for BTC?

Redemption goes through the issuer or protocol on its terms (KYC, fees, timing). Read the documentation of the specific token.

Are wrapped tokens counted in the 21 million?

No, they are not new coins: the tokens are issued against real BTC that sit at the custodian's addresses.

Why do trackers differ?

A tracker counts BTC at known addresses at its own time; issuers publish token supply per network at another. Sources, timing and method differ.

Similar holders

Source: bitcointreasuries.net · as of 22 Oct 2026, 13:35 London · the 8 largest holders of the same type