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Bitcoin Supply on Ethereum Tops $1B
More than 92,000 bitcoins have been tokenized on Ethereum.
By Zack Voell
Updated Mar 6, 2023, 2:50 p.m. Published Sep 17, 2020, 6:06 p.m.
Over $1 billion worth of bitcoin has been tokenized on Ethereum as the total supply of tokenized bitcoin passed 92,600 on Thursday, or 0.42% of the total BTC supply. In January, less than 1,200 BTC were tokenized worth less than $7 million.
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- Wrapped bitcoin (WBTC), the largest tokenized bitcoin project, has minted over 60,500 tokenized BTC since its launch in early 2019, representing over 65% of the total tokenized BTC supply.
- “Huge buying demand” over the counter is one reason for the rapid increase in supply of tokenized BTC, according to Sam Bankman-Fried, CEO of FTX and co-founder of Alameda Research, the exchange’s sister company.
- OTC demand for WBTC started at FTX with the advent of decentralized finance’s yield farming craze, said Bankman-Fried. Demand continued to grow as the total value held in DeFi protocols increased.
- Nearly 70% of all WBTC minted in August were claimed by Alameda Research, as CoinDesk previously reported.
- RenBTC, the second largest tokenized bitcoin project, has issued 22,000 tokenized bitcoins since May, according to data queried on Dune Analytics.
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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What to know:
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- The bank argued that event contracts fix a key flaw in traditional finance by letting investors trade directly on inflation, elections, Fed moves and regulation.
- While regulation and liquidity are hurdles, prediction markets are likely to evolve from retail-heavy speculation into a mainstream hedging and information tool that could reach multitrillion-dollar annual scale, the report said.
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