Circle's cirBTC Tokenized Bitcoin Asset Launches on Ethereum with Limited Circulation

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Circle’s cirBTC tokenized Bitcoin asset launched on Ethereum on June 8, according to Ethereum contract data, with a maximum supply of approximately 40.02 BTC across 11 addresses. Institutional participants can mint and redeem via Circle Mint. Ethereum is currently the only supported network, with future plans to expand to Arc and others. Issued by Circle International Bermuda Limited, reserves are held by Circle National Trust and verified using Chainlink’s Proof of Reserve. As of August 11, cirBTC’s supply was 40.02159077 BTC, with 42.5070808 BTC in reserves. WBTC and cbBTC have significantly larger circulations. cirBTC currently has no market price. This development brings new Ethereum ecosystem news for traders and investors.

Odaily Planet Daily reports that cirBTC officially launched on Ethereum on June 8. Data from its Ethereum contract shows a maximum total supply of approximately 40.02 BTC, with 11 holding addresses. Qualified institutional participants can mint and redeem cirBTC via Circle Mint; currently, Ethereum is the only live network, with future support planned for Circle’s proprietary blockchain, Arc, and additional networks. cirBTC is issued by Circle International Bermuda Limited, with underlying Bitcoin held in custody by Circle National Trust and segregated from Circle’s own assets. Reserve data as of August 11 shows a cirBTC supply of 40.02159077 BTC and 42.5070808 BTC in reserves. Circle has publicly disclosed reserve addresses and balances, and employs Chainlink’s Proof of Reserve mechanism to publish verified reserve data on-chain. In comparison, WBTC has a circulating supply of approximately 116,100 BTC and a market cap of about $7.362 billion; cbBTC has a circulating supply of approximately 97,200 BTC and a market cap of about $6.162 billion. cirBTC currently lacks a trackable market price or market cap.

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