Bitget Wrapped BTC

Bitget Wrapped BTC (BGBTC) is a cryptocurrency launched in 2026.

Issued on the Ethereum network as an ERC-20 token, it mirrors the value of Bitcoin while enabling its utility across decentralized finance applications.

The token converts static Bitcoin holdings into yield-generating instruments without requiring holders to sell their underlying BTC.

Through Bitget’s subscription portal, users lock native Bitcoin in a custodial arrangement and receive BGBTC in return, which can then be deployed into staking pools on Bitget Earn or across partnered DeFi protocols that specialize in Bitcoin-native finance.

This wrapper addresses the long-standing inefficiency of Bitcoin’s liquidity isolation, allowing capital to flow into lending, liquidity provision, and reward-earning strategies on Ethereum’s composable infrastructure.

Bitget Wrapped BTC operates on the Ethereum network as a standard ERC-20 token, inheriting the blockchain’s security and transaction finality from its proof-of-stake consensus.

There is no standalone chain; the token’s existence is confined to a smart contract on Ethereum that manages minting and burning in lockstep with custodial BTC deposits and redemptions.

The token conforms to the ERC-20 standard, ensuring compatibility with any Ethereum wallet, decentralized exchange, or lending platform.

The mint-and-burn peg mechanism is anchored to a transparent on-chain contract that programmatically adjusts supply when user-submitted Bitcoin is verified or when BGBTC is redeemed back to BTC.

This design maintains a persistent 1:1 collateralization, while the underlying BTC remains custodied by Bitget.

The initiative originated from the centralized exchange Bitget, which launched BGBTC on April 18, 2026, as an extension of its product ecosystem.

No individual founder is publicly associated; the token emerged from the exchange’s strategic push into on-chain Bitcoin yield products.

The immediate catalyst was a collaboration framework with multiple Bitcoin DeFi projects, which allowed BGBTC stakers to start accumulating BGPoints—loyalty rewards convertible into upcoming project tokens.

The project’s broader ambition is to dismantle the wall between Bitcoin’s trillion-dollar market and Ethereum’s yield-bearing protocols.

By tokenizing Bitcoin on a permissionless ledger, the project enables capital efficiency without requiring holders to exit their BTC positions.

This approach positions Bitcoin not merely as digital gold but as a fluid asset that can participate in lending markets, automated portfolio strategies, and the accelerating BTCfi sector.

Mechanically, BGBTC serves as the entry ticket to Bitget’s staking infrastructure.

Depositing the token into designated Earn pools triggers the allocation of that represented BTC across vetted DeFi strategies.

In exchange, the staker accumulates BGPoints—stackable, off-chain reward points that track contribution—which are later redeemed for token airdrops once partner projects complete their token generation events.

The token itself never leaves the custody wrapper during staking; only the reward claims accrue.

A holder can subscribe to BGBTC through the official channel, then stake the minted tokens to earn BGPoints.

These points, while not immediately liquid, represent a claim on future ecosystem tokens, effectively giving stakers early exposure to multiple BTCfi launches without selling any Bitcoin.

The arrangement preserves full BTC price exposure while layering an additional yield stream that materializes after TGEs.

Redemption remains open at any time, converting BGBTC back to native BTC at the prevailing 1:1 ratio.

Bitget Wrapped BTC has a maximum supply of 519 tokens.

Currently, 519 are in circulation.

The total supply mirrors the circulating figure, with no inflation schedule or minting beyond the existing BTC backing.

With a market capitalization of $40,155,868, Bitget Wrapped BTC ranks #545 among all cryptocurrencies.