Баланс WBTC

WBTC (Wrapped Bitcoin) is an ERC-20 token on Ethereum, live since January 2019, minted 1:1 against real BTC held by a custodian (long BitGo). Deposit BTC with the custodian, receive WBTC, and Bitcoin's value can enter Ethereum's DeFi ecosystem — collateralized lending, liquidity provision, yield strategies — none of which Bitcoin's own chain supports. This page charts the peg balance: the amount of bitcoin actually held in custody backing circulating WBTC. Data comes from DefiLlama's on-chain custody balance, with the latest point calibrated against wbtc.network's official supply (the two differ systematically by ~1-2%; this site aligns them).

A rising balance means net minting — BTC being locked up in exchange for WBTC, typically when DeFi yield opportunities pull bitcoin capital in. A falling balance means net redemption — WBTC burned and real BTC withdrawn, typically during DeFi deleveraging, trust concerns, or the rise of better alternatives. The curve is thus a stock measure of bitcoin capital's participation in Ethereum DeFi: it gauges cross-chain allocation appetite, not price expectations.

Two pivotal moments sit in this window. First, the balance peaked around 285,000 BTC in May 2022 — precisely the top of the last DeFi leverage cycle — then shrank through the Luna/FTX cascade of deleveraging. Second, in August 2024 BitGo announced moving WBTC custody into a joint venture with BiT Global (an entity associated with Justin Sun), triggering broad concern over custodial neutrality: MakerDAO voted to offboard WBTC as collateral, and Coinbase launched the competing cbBTC soon after. This page's data shows the balance falling from roughly 155,000 then to a low of 113,000 in June 2026, now about 116,000 — the erosion from the trust episode is plainly visible.

WBTC's 1:1 peg rests entirely on the assumption that the custodian is honest and solvent — it is a custody model, not a cryptographically trustless bridge. Reserves are publicly auditable via on-chain addresses, which makes it more transparent than traditional custody; but redemption rights, key management, and jurisdictional risk all live off-chain. Practical advice: read this curve as both a barometer of bitcoin capital in DeFi and a thermometer of custodial trust. A rapid decline can mean deleveraging or trust migration toward competitors like cbBTC — cross-check against competitor supply data before concluding.

Beyond institutional flows, check leverage via open interest and BTC liquidations.