Price Chart

Chart by TradingView

24h Volume$140.09M
7d Avg Daily$131.93M
30d Avg Daily$120.81M
365d Total$87.44B
Volume
$116.9Mavg/day
avg $116.9MJun 8Jun 15Jun 22Jun 29Jul 6

What is Wrapped Bitcoin?

Wrapped Bitcoin (WBTC) is an ERC-20 token pegged 1:1 to Bitcoin, enabling BTC holders to participate in Ethereum-based DeFi protocols that cannot natively hold Bitcoin. Each WBTC is minted by a custodian — historically BitGo — only when an equivalent amount of BTC is locked in reserve, and can be redeemed (burned) back to BTC at any time through registered merchants. It is the most widely used tokenized Bitcoin on Ethereum, with its reserves publicly auditable on-chain.

WBTC bridges the liquidity of Bitcoin with the programmability of Ethereum. When a user wants to supply BTC to a lending protocol such as Aave or provide liquidity on Uniswap, they send BTC to a custodial merchant, who instructs BitGo to mint an equivalent WBTC balance on Ethereum. The minting and burning records are fully transparent, and the on-chain proof-of-reserves can be verified at any time by comparing the WBTC total supply against BitGo's published BTC wallet. This design has made WBTC the dominant form of tokenized Bitcoin in DeFi, used as collateral, a trading pair, and a yield source across dozens of protocols.

The critical and durable risk in WBTC is custodial centralization. BitGo holds the underlying BTC and, if it were to be hacked, insolvent, or legally compelled to freeze assets, WBTC holders on Ethereum would face losses. This stands in direct contrast to trustless bridging approaches and is a known philosophical tension for a project built on the premise of extending Bitcoin's reach. In 2024 a transfer of WBTC custody to a joint venture involving BiT Global and Justin Sun prompted significant community concern and migration of collateral out of DeFi protocols, illustrating how sensitive the trust assumption is in practice. Governance over the WBTC DAO involves multiple entities, but the custodial layer remains a single point of systemic risk.

Reviewed by the 2Bitcoins Editorial Team · Updated . Not financial advice.

Wrapped Bitcoin FAQ

Is Wrapped Bitcoin actually backed by real BTC?+

Yes. Each WBTC is backed 1:1 by Bitcoin held in reserve by the custodian (currently BitGo and associated entities). The BTC collateral is held in verifiable on-chain wallets, and the total supply of WBTC can be cross-referenced against published reserve addresses at any time. WBTC.network publishes the current proof-of-reserves dashboard.

Can I convert WBTC back to real Bitcoin?+

Yes. Redemption is available through registered WBTC merchants. A user sends WBTC to a merchant, who initiates a burn transaction on Ethereum and releases an equivalent amount of BTC from the custodial reserve to the user's Bitcoin address. Direct retail redemption is not available — only whitelisted merchants can trigger mints and burns.

How does WBTC differ from other tokenized Bitcoin options?+

WBTC uses a centralized custodian model, meaning trust is placed in BitGo to hold the underlying BTC. Alternatives such as renBTC (now defunct) and tBTC take different approaches — tBTC, for example, uses a decentralized threshold signature scheme backed by a crypto-economic bond rather than a single custodian, trading liquidity for reduced counterparty risk.

Wrapped Bitcoin key numbers

Price (USD)$63,875.00
Market cap$7.42B
24h low / high$62,774.00 → $64,374.00
24h change 1.61%
7d change 9.35%
Circulating supply116,132 WBTC

Where to buy Wrapped Bitcoin

View all exchanges →

Buy WBTC on these trusted exchanges. Ranked by our rating — based on fees, security, features, and user experience.

#1
Binance
BinancePoR
4.7
$600 bonus
World's largest exchange by volume
Lowest fees with BNB discount
400+ trading pairs
Maker 0.1%|Taker 0.1%|400+ coins
#2
Bybit
BybitPoR
4.3
Up to $30,000 bonus
Market-leading derivatives and perpetual contracts
Competitive 0.1% spot and futures fees
Best-in-class copy trading platform
Maker 0.1%|Taker 0.1%|270+ coins
#3
OKX
OKXPoR
4.4
Free Mystery Gift
Competitive fees with maker at 0.08%
One of the deepest order books in the industry
Native Web3 wallet built into the app
Maker 0.08%|Taker 0.1%|340+ coins
#4
Coinbase
Coinbase
4.4
Get 40£
NASDAQ-listed, publicly regulated company
Best-in-class regulatory compliance
Simple and intuitive user interface
Maker 0.6%|Taker 1.2%|240+ coins
#5
Kraken
KrakenPoR
4.5
$10 + bonus
One of the oldest and most trusted exchanges
No breach with loss of customer funds in 15 years
Strong regulatory compliance across multiple jurisdictions
Maker 0.25%|Taker 0.4%|220+ coins
#6
KuCoin
KuCoinPoR
4.1
Up to $11,000 bonus
Massive selection of 850+ cryptocurrencies
Supports many small-cap and new tokens early
Built-in trading bot and DCA tools
Maker 0.1%|Taker 0.1%|850+ coins
#7
MEXC
MEXCPoR
3.9
$10,000 bonus
0% maker fee — among lowest in industry
1,500+ listed cryptocurrencies
Very early listings of new tokens
Maker Free|Taker 0.05%|1500+ coins
#8
Bitget
BitgetPoR
4.1
$6,200 bonus
Industry-leading copy trading with 100,000+ signal providers
Competitive spot and derivatives fees
Strong $200M protection fund for user assets
Maker 0.1%|Taker 0.1%|550+ coins
#9
BingX
BingXPoR
3.7
$6,000 bonus
One of the strongest copy trading platforms in the industry
Competitive 0.1% spot fees and low futures rates
700+ cryptocurrencies with frequent new listings
Maker 0.1%|Taker 0.1%|700+ coins

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Wrapped Bitcoin Markets

#ExchangePairPriceVolume (24h)Trust
1Binance logoBinanceWBTC/BTC$63,757.00$17.50M
2LBank logoLBankWBTC/USDT$63,695.00$2.87M
3Bitget logoBitgetWBTC/USDT$63,886.00$1.49M
4Bullish logoBullishWBTC/BTC$63,771.00$716.86K
5Kraken logoKrakenWBTC/XBT$63,731.00$190.88K
6Bybit logoBybitWBTC/BTC$63,847.00$1.23M
7Dexalot logoDexalotWBTC/USDC$63,683.00$235.66K
8Pionex logoPionexWBTC/BTC$63,758.00$230.10K
9BloFin logoBloFinWBTC/USDT$63,813.00$11.78M
10BitMart logoBitMartWBTC/USDT$63,746.00$560.98K
11DigiFinex logoDigiFinexWBTC/BTC$63,798.00$350.09K
12Azbit logoAzbitWBTC/USDT$63,761.00$547.46K
13Bitrue logoBitrueWBTC/BTC$63,911.00$6.04M
14Niza.io logoNiza.ioWBTC/BTC$63,740.00$47.72K
15BingX logoBingXWBTC/USDT$63,797.00$156.39K
16MEXC logoMEXCWBTC/USDT$63,705.00$136.60K
17Uniswap V3 (Ethereum) logoUniswap V3 (Ethereum)0X2260FAC5E5542A773AA44FBCFEDF7C193BC2C599/0XDAC17F958D2EE523A2206206994597C13D831EC7$63,758.00$17.83M
18Uniswap V4 (Ethereum) logoUniswap V4 (Ethereum)0X0000000000000000000000000000000000000000/0X2260FAC5E5542A773AA44FBCFEDF7C193BC2C599$63,883.00$7.38M
19O2 logoO2WBTC/USDC$63,797.00$10.68K
20Yellow PRO logoYellow PROWBTC/USDT$63,674.00$2.82M