Wrapped Bitcoin(WBTC)價格 + 圖表

什麼是 Wrapped Bitcoin?

Wrapped Bitcoin (WBTC) is an ERC-20 token that represents Bitcoin (BTC) on Ethereum and other smart contract networks at a 1:1 ratio. Each WBTC is backed by one BTC held in custody, with a network of merchants minting and burning WBTC against deposits and redemptions of underlying Bitcoin. WBTC was launched in January 2019 by a consortium led by BitGo, Kyber Network, and Ren, with the goal of bringing Bitcoin's liquidity into the rapidly growing Ethereum DeFi ecosystem. As of 2025, WBTC remains the largest tokenised Bitcoin product on Ethereum by market cap, with several billion dollars of BTC locked across custodians.

The wrapping process is operated by approved 'merchants' such as institutional desks and DeFi-native firms. To mint WBTC, a merchant sends BTC to the WBTC custodian (originally BitGo, with custody arrangements expanded in 2024 to include BiT Global, a joint venture involving BitGo, BiT Mining, and Justin Sun-affiliated entities). On confirmation of the BTC deposit, the WBTC DAO releases an equivalent amount of WBTC to the merchant, who then distributes it to end users via exchanges and DEXes. Redemption works in reverse: WBTC is burned and the underlying BTC is released. All mints and burns are visible on-chain, and the WBTC consortium publishes a real-time proof of reserve via the WBTC dashboard.

WBTC integrates with effectively the entire Ethereum DeFi stack. It is accepted as collateral on Aave, Maker (Sky), Morpho, Spark, and Compound; serves as a base trading pair on Uniswap, Curve, and Balancer; and underpins yield-bearing strategies on protocols such as Pendle, Yearn, and Convex. Holding WBTC instead of native BTC trades custodial trust (you trust the WBTC custodian to honour redemptions) for DeFi composability (you can lend, borrow, swap, and tokenise the position 24/7 on-chain).

The 2024 transition of WBTC custody arrangements to include BiT Global generated significant community debate, with some observers raising concerns about the involvement of Justin Sun-affiliated entities and prompting protocols including Sky and Coinbase to evaluate alternative wrapped Bitcoin products such as cbBTC (Coinbase Wrapped BTC, launched September 2024) and tBTC (Threshold's decentralised wrap). WBTC retains the largest market share by some distance, but the competitive landscape for tokenised Bitcoin on Ethereum is now meaningfully more diversified than it was before 2024.

主要功能： Wrapped Bitcoin

• 1:1 Bitcoin Backing: Every WBTC is backed by one BTC held by the WBTC consortium's custodian. The reserve is verifiable on-chain via Bitcoin block explorers and through the WBTC consortium's real-time proof-of-reserve dashboard.
• Deepest DeFi Integration on Ethereum: WBTC is the most widely accepted tokenised Bitcoin across Aave, Sky, Morpho, Spark, Compound, Uniswap, Curve, Balancer, and Pendle. No alternative wrapped Bitcoin matches its DeFi liquidity profile.
• Multi-Network Availability: WBTC is canonically issued on Ethereum and bridged to Polygon, Arbitrum, Optimism, Base, and other networks via canonical bridges, allowing users to deploy Bitcoin liquidity on Layer-2 networks with lower fees.
• Transparent Mint and Burn Flow: All WBTC mints and burns are visible on-chain. Approved merchants must publicly demonstrate BTC deposits to mint, and any holder can redeem WBTC for BTC at par through a merchant on demand.
• Battle-Tested Since 2019: WBTC has operated continuously since January 2019, processing billions of dollars of BTC through wrap and unwrap cycles without a custody loss or peg break larger than a fraction of a percent.

Wrapped Bitcoin 應用場景

• Bitcoin Collateral in DeFi: Deposit WBTC on Aave, Sky, Morpho, or Spark to borrow stablecoins or other crypto without selling your Bitcoin position. Liquidation thresholds are relatively conservative because WBTC is high-value collateral with deep liquidity.
• Yield on Bitcoin: Supply WBTC to Curve, Uniswap, or Balancer pools to earn trading fees, or use looping strategies on Pendle and Yearn to compound BTC-denominated yield without selling exposure.
• On-Chain Bitcoin Trading: DEX users trade WBTC against ETH, stablecoins, and other ERC-20 assets at any hour without needing a centralised exchange account. Aggregators such as 1inch, Matcha, and CoW Swap route WBTC orders across pools for best execution.
• Cross-Chain Bitcoin Liquidity: WBTC is bridged to Layer-2 networks like Arbitrum, Optimism, and Base, where DeFi fees are dramatically lower. Bitcoin-denominated yield strategies that would be uneconomic on Ethereum mainnet become viable on these networks.
• Treasury Management: DAOs and crypto treasuries hold WBTC instead of native BTC when they want their Bitcoin exposure to remain composable with the rest of their on-chain portfolio. Voting tools, multisigs, and accounting integrations are simpler when all assets live on Ethereum.

Wrapped Bitcoin 代幣經濟學

總供應量

WBTC has no protocol-level cap independent of Bitcoin's. The total supply mirrors the BTC held by the WBTC custodian — currently several hundred thousand BTC, equivalent to billions of dollars at current prices.

流通量

Every WBTC in circulation is backed by one BTC held by the WBTC consortium's custodian and visible via the WBTC proof-of-reserve dashboard. There is no pre-mine, founder allocation, or vesting.

用途

WBTC functions as a payment, trading, and collateral asset on Ethereum. Holding WBTC does not confer governance rights — those flow through the separate WBTC DAO. The token is purely a Bitcoin-tracking instrument.

發行速率

WBTC supply expands when merchants mint against BTC deposits and contracts when they burn against BTC redemptions. There is no inflationary emission curve.

如何購買 Wrapped Bitcoin

1. 1

   1. Create a Binance account

   Sign up at binance.com or via the app and complete identity verification at the Intermediate level.

2. 2

   2. Fund your account

   Deposit fiat via bank transfer or card, or transfer in USDT, USDC, or BTC.

3. 3

   3. Open a WBTC pair

   Click 'Trade' → 'Spot' and search for WBTC. The most liquid pair is WBTC/BTC, which lets you swap native BTC for WBTC at near-1:1; WBTC/USDT and WBTC/USDC are also available.

4. 4

   4. Place your order

   Use a market order for instant fill or a limit order at WBTC/BTC ≈ 1.0 to capture cheap liquidity. Confirm and execute.

5. 5

   5. Withdraw to an Ethereum wallet

   Withdraw WBTC over Ethereum (ERC-20) or a supported Layer-2 such as Arbitrum or Base. Confirm the destination address is on the chosen network. WBTC sent to a BTC-only wallet will be lost — these are different chains.

Wrapped Bitcoin 歷史表現

WBTC has tracked Bitcoin's price closely since launch in January 2019, with deviations rarely exceeding 0.5% even during stressed market periods. Total WBTC supply has scaled with broader DeFi adoption to several hundred thousand BTC. The August 2024 custody update to include BiT Global was the most material governance event in WBTC's history and prompted the rise of competing wrapped Bitcoin products (cbBTC, tBTC) without dislodging WBTC's dominance.

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