Circle’s tokenized Bitcoin product, cirBTC, is now live on Ethereum, though its footprint remains tiny. According to the latest figures cited by BlockBeats, only about 40 cirBTC are currently in circulation, far below the scale of Wrapped Bitcoin (WBTC) and Coinbase’s cbBTC. The report notes that cirBTC went live on Ethereum on June 8, not August 12, and on-chain contract data shows a maximum total supply of roughly 40.02 cirBTC held across 11 wallet addresses. Circle said eligible institutional participants can mint and redeem cirBTC through Circle Mint. Ethereum is the only network currently supported, with Circle’s own Arc blockchain and additional networks planned for later. The asset is issued by Circle International Bermuda Limited, while the underlying BTC is held in custody by Circle National Trust and segregated for the benefit of cirBTC holders. Circle also said the backing BTC is kept separate from the company’s own assets. Reserve data dated August 11 showed 40.02159077 cirBTC in supply against 42.5070808 BTC in reserves. Circle has disclosed reserve addresses and balances, which can be checked on the Bitcoin blockchain. For reserve verification, the company uses Chainlink’s Proof of Reserve instead of a traditional monthly attestation. Even so, cirBTC has yet to develop a trackable market price or market capitalization.

Circle renewed its promotion of cirBTC on Aug. 12, presenting the token as neutral collateral for institutions, but the product is not newly launched. cirBTC has been live on Ethereum since June 8, and at the time of review only about 40 tokens were outstanding. That leaves it far behind larger wrapped Bitcoin products, including WBTC and Coinbase Wrapped BTC, which had 116,132 and 97,231 tokens in circulation, respectively. Circle says eligible institutional participants can mint and redeem cirBTC through Circle Mint. Etherscan showed a maximum total supply of 40.01955869 cirBTC and 11 holder addresses, while CoinGecko labeled the asset as preview only and said it was unavailable on the centralized and decentralized exchanges it tracks. According to Circle, cirBTC is issued by Circle International Bermuda Limited and backed by bitcoin held through its Bermuda affiliate and custodied by Circle National Trust for the exclusive benefit of token holders. A reserve dashboard timestamped Aug. 11 at 8 a.m. showed 40.02159077 cirBTC in supply against 42.5070808 BTC in reserves. For now, Ethereum is the only live network Circle lists for cirBTC, with Arc named as the next deployment subject to regulatory approvals.

Circle plans to launch cirBTC, a 1:1 Bitcoin-backed wrapped token targeting institutional users. The move expands Circle beyond stablecoins, addressing transparency concerns in the wrapped Bitcoin market, especially around WBTC.

Circle announced a crosschain roadmap featuring CCTP Fast Transfer for near-instant USDC settlement, Gateway unifying liquidity across 12 chains in under 500ms, support for assets like EURC, USYC, and cirBTC, plus orchestration tools to streamline multi-step transactions.

Aave Labs has opened a Temp Check to deploy Aave V4 on Circle’s Arc mainnet, with USDC, EURC, and cirBTC under consideration and a five-year, $10 million revenue commitment to the Aave DAO.

Circle has launched cirBTC on Ethereum, a 1:1 BTC-backed wrapped token for institutional DeFi use. The underlying bitcoin is held in segregated custody, with reserves verified through Chainlink Proof of Reserve, and Arc integration is planned next.

Circle has launched cirBTC on Ethereum, a wrapped Bitcoin token backed 1:1 by BTC in regulated custody, with Chainlink Proof of Reserve added for onchain reserve verification.

Circle announced cirBTC, a 1:1 BTC-backed tokenized Bitcoin product designed for institutions. The reserves will be transparently verifiable on-chain in real time. cirBTC is planned to launch first on Ethereum and Arc, pending regulatory approval.