Circle’s cirBTC Launches on Ethereum with Limited Supply

Circle has announced the continued development of cirBTC as a neutral institutional collateral on Ethereum. Although the product has been operational since June 8, its circulating supply remains limited, with only about 40 tokens outstanding at the time of review. This is in contrast to larger wrapped Bitcoin tokens like WBTC, which has over 116,000 tokens, and cbBTC, with around 97,000 tokens. Circle emphasizes that the backing of cirBTC is maintained by Circle National Trust, which custody the reserve assets. Additionally, the project provides onchain visibility through published Bitcoin addresses and Chainlink Proof of Reserve, with support for Arc expected in the future.