Circle Launches cirBTC on Ethereum with Only 40 Units in Circulation

Circle’s Bitcoin tokenization asset, cirBTC, is now live on Ethereum. With merely 40 tokens issued, it trails WBTC and cbBTC significantly in scale.

Woofun AI reports that Circle has launched its Bitcoin tokenization asset, cirBTC, on Ethereum, with approximately 40 units currently in circulation. The token was officially introduced on June 8, correcting previous reports of an August 12 launch. Circle states that qualified institutional participants can mint and redeem cirBTC via Circle Mint, with Ethereum being the sole supported network for now. Future plans include support for Circle's own blockchain, Arc, and other networks.

The asset is issued by Circle International Bermuda Limited, while the underlying BTC is held by Circle National Trust, isolated from Circle's corporate assets. As of August 11, reserves held 42.5070808 BTC against a supply of 40.02159077 cirBTC. Circle utilizes Chainlink's Proof of Reserve for on-chain verification rather than traditional monthly attestations. Compared to WBTC's ~116,100 tokens and cbBTC's ~97,200 tokens, cirBTC remains in early stages with no trackable market price.