Kraken Wrapped BTC
kBTC
#109Kraken Wrapped BTC
Kraken Wrapped BTC
kBTC#109
Mcap$672M$77,035.463.24%
kBTC Metrics
Spot Volume (24H)
$788.19K+368.60%
Marketcap
$672M
FDV
$672M
Mindshare
Very Low
Circ. Supply
8,725
Max Supply
-
Mcap/FDV
100%
Total Supply
8,726
Sector Ranking
-
kBTC Performance
All Time High
$234.46K-67.14%
May 08, 2025
Cycle Low
$12,187+532.09%
Sep 10, 2026
Trending
kBTC Metrics
Spot Volume (24H)
$788.19K+368.60%
Marketcap
$672M
Mindshare
Very Low
Last Updated: Oct-29-2026 10:28 UTC
Kraken Wrapped BTC (kBTC) Project Update
Get Caught Up
BitGo's WBTC migration to Chainlink CCIP reshapes the wrapped Bitcoin landscape. In early August 2026, BitGo began migrating roughly $7.4 billion of Wrapped Bitcoin (WBTC) from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP), making CCIP the default cross-chain standard for all future BitGo-issued assets 12. This migration followed the $292 million Kelp DAO bridge exploit, which exposed vulnerabilities in LayerZero's Decentralized Verifier Network (DVN) model, and brought the total value shifting from LayerZero to Chainlink to nearly $15 billion 12. Kraken's kBTC was named among the projects participating in this broader exodus away from LayerZero 1. Cross-chain protocols are the infrastructure that lets a token like kBTC move between different blockchains; the choice of provider matters because it determines the security assumptions behind those transfers.
Kraken Institutional deepened its role in institutional Bitcoin yield. In mid-August 2026, Lombard announced that its LBTC token would shift its yield source from Bitcoin staking to a Bitwise Asset Management–managed covered-call options strategy targeting 2.5% net APY paid in Bitcoin, with Kraken supporting the transition 34. The Bitcoin backing the strategy is held in segregated, bankruptcy-remote accounts at qualified custodians including Kraken under tri-party agreements, and Kraken also serves as one of the execution venues where Bitwise trades the underlying options 34. A covered-call strategy generates income by selling options against held assets; this matters because it treats Bitcoin as productive collateral rather than a passive store of value, expanding what Kraken can offer institutional clients 3.
Kraken expanded its traditional-finance footprint across Europe. In August 2026, Kraken brought U.S. stock trading to eligible customers throughout the European Economic Area, following a limited rollout in Germany, the Netherlands, and France 5. The platform now offers more than 7,000 U.S. stocks alongside over 600 crypto assets and more than 700 tokenized equities (xStocks), which have generated over $38 billion in total transaction volume since June 2025 5. This matters because it positions Kraken as a bridge between traditional and digital markets, a theme reinforced by its December 2025 strategic partnership with Deutsche Börse Group 56.
Biggest Stories of 2025
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kBTC integrated LayerZero's Omnichain Fungible Token (OFT) Standard, enabling transfers of the wrapped Bitcoin token across supported networks. This remains relevant as the cross-chain infrastructure landscape has since shifted toward Chainlink CCIP. (December 4, 2025) 7
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Kraken announced a strategic partnership with Deutsche Börse Group to bridge traditional and digital markets for institutional clients, spanning trading, custody, settlement, and tokenized assets. The collaboration established a two-way gateway between U.S. and European institutional markets. (December 4, 2025) 68
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Kraken launched Kraken VIP, an invitation-only program for ultra-high-net-worth individuals and sophisticated traders requiring an average platform balance of $10 million or $80 million in annual trading volume. (December 4, 2025) 9
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Kraken introduced EURC as a margin and futures collateral asset with a 1% haircut, expanding the range of collateral available to traders. (November 24, 2025) 10
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The Ink Foundation launched Tydro, a whitelabel instance of Aave v3 on Ink supporting non-custodial lending markets for assets including kBTC, wETH, and several stablecoins. This expanded kBTC's utility within DeFi lending markets. (October 15, 2025) 11
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Kraken partnered with an affiliate of Circle Internet Group, expected to give Kraken clients increased liquidity, reduced conversion fees, and new opportunities to deploy USDC, alongside support for Circle's EURC. (September 17, 2025) 12
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Kraken introduced Kraken Wrapped Bitcoin (kBTC), a wrapped token backed 1:1 by BTC held in custody by Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution (SPDI). At launch, kBTC was available as an ERC-20 token on Ink, Unichain, Ethereum, and OP Mainnet, with plans to expand to additional networks including non-EVM ecosystems. (March 21, 2025) 16
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Kraken added support for asset transfers to and from the Base network, with initial support for ETH and USDC. (February 20, 2025) 17