Bitget Wrapped BTC
bgbtc
#319Bitget Wrapped BTC
Bitget Wrapped BTC
bgbtc#319
Mcap$92.64M$78,243.782.34%
bgbtc Metrics
Spot Volume (24H)
$335.58K+16.12%
Marketcap
$92.64M
FDV
$92.64M
Mindshare
Very Low
Circ. Supply
1,184
Max Supply
-
Mcap/FDV
100%
Total Supply
1,184
Sector Ranking
-
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bgbtc Performance
All Time High
$87,127-10.20%
Sep 23, 2026
Cycle Low
$76,793+1.89%
Oct 30, 2026
Trending
bgbtc Metrics
Spot Volume (24H)
$335.58K+16.12%
Marketcap
$92.64M
Mindshare
Very Low
Last Updated: Oct-29-2026 9:56 UTC
Bitget Wrapped BTC (bgBTC) — Project Update
Get Caught Up
Bitget's BTC yield vault goes live on Morph. Bitget launched a BTC yield strategy vault on the Morph network, built by Gauntlet on Aera and leveraging Morpho's lending markets, accessible to Bitget's 125+ million users through the Bitget app and wallet 12. The vault opened with 3% BTC and 18% USDC APY, using BTC as the initial collateral with BGB (Bitget's native token) to follow as a second collateral option 12. BTC deposited by users is converted to bgBTC (Bitget Wrapped Bitcoin) to move on Morph as collateral, so users earn yield while their BTC remains within the Bitget ecosystem 1. This matters because it turns idle Bitcoin into a productive, yield-generating asset without requiring users to leave the Bitget platform or interact directly with DeFi protocols 12.
BGBTC upgraded to Chainlink CCIP with a new Curator framework. Bitget upgraded BGBTC, its 1:1 backed yield-bearing Bitcoin asset, to offer daily BTC-denominated rewards, large-volume fast redemption, and enhanced risk oversight 3. The upgrade introduces an independent Curator framework led by Gauntlet, separating strategy governance from asset custody to strengthen monitoring and risk management 3. Bitget also adopted Chainlink's Cross-Chain Interoperability Protocol (CCIP) — a cross-chain messaging standard — as its canonical cross-chain infrastructure, expanding secure multi-chain distribution alongside its existing use of Chainlink Proof of Reserve 3. BGBTC can now be used beyond spot exposure as futures margin, lending collateral, and for participation in Launchpool and PoolX 3.
RedStone selected as the oracle powering the vault. RedStone provides the USD price feeds the vault runs on, starting with BTC-USD (already live on Morph), with a BGB feed to come next 12. Gauntlet selected RedStone as the data layer because Morpho markets fix their oracle at deployment and cannot be changed later, making the choice binding for the life of the market 1. RedStone Atom is enabled for the vault to recapture value that leaks from liquidations via a sealed-bid auction lasting under 300 milliseconds, returning most of the value to the protocol 12. BGB pricing requires multiple independent feeds to avoid single-venue risk, which is why RedStone aggregates data from several sources rather than relying on Bitget alone 12.
Biggest Stories of 2025
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WBTC went live on the Hedera network through a collaboration between BitGo, BiT Global, and LayerZero, bringing canonical WBTC to Hedera's DeFi ecosystem with liquidity pools live on SaucerSwap 4. This expanded WBTC's multi-chain footprint into a new enterprise-oriented network (November 13, 2025).
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WBTC was deployed on the Renzo protocol, an Ethereum restaking and liquid restaking protocol, adding a new venue where wrapped Bitcoin could be used within DeFi strategies 5. This broadened WBTC's integration into yield-bearing restaking infrastructure (October 22, 2025).
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WBTC remained the largest tokenized Bitcoin throughout the year, with a circulating supply of approximately 129,177 BTC (about $10.8 billion) as of March 2025, backed 1:1 by Bitcoin held with custodians BitGo and BiT Global 6. Its scale and established position continued to anchor the wrapped-Bitcoin category despite growing competition (March 17, 2025).
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WBTC's foundational role in DeFi was reaffirmed through educational and market coverage explaining its 1:1 backing, custodial model, and use cases in lending, borrowing, and liquidity provision across Ethereum and its Layer 2 solutions 78910+1. These explainers underscored both the utility and the custodial/smart-contract risks inherent to the asset (July 2025).
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