Tokenized Bitcoin Tops 172,000 BTC as Cross-Chain Use Cases Grow
Over $7 billion in Bitcoin is now actively used across Ethereum, Base, and Solana, driven by the rising adoption of tokenized versions like WBTC and Coinbase’s cbBTC, according to Coin Metrics.
The supply of tokenized Bitcoin has surpassed 172,000 BTC, expanding Bitcoin’s utility beyond its native blockchain. WBTC remains dominant with 81% share, while cbBTC is rapidly growing, especially on Base, due to low fees and Coinbase’s wide reach.
These tokens enable Bitcoin to function in decentralized finance (DeFi). With most locked as collateral in lending platforms. However, Coin Metrics notes that while tokenized BTC boosts liquidity and interoperability, custodial models also introduce centralized risk.
Clever Robot News Desk 4th June 2025
