Bitcoin Market Expands with Circle’s cirBTC Launch

Circle Introduces cirBTC for Institutional Bitcoin Exposure

• Circle has launched cirBTC, a wrapped Bitcoin product targeting institutional users.
• cirBTC is backed 1:1 by Bitcoin, with reserves verifiable onchain.
• The product is designed for OTC desks, market makers, and lending protocols needing tokenized BTC.
• cirBTC will initially launch on Ethereum and Circle’s Arc blockchain project.
• This move aligns with Circle’s 2026 strategy to build an internet financial system through stablecoins and blockchain infrastructure.
• The existing wrapped Bitcoin market includes WBTC with a market cap of $8 billion and cbBTC at $6 billion.

Circle’s introduction of cirBTC aims to provide a secure wrapped Bitcoin option for institutions, integrating into its broader blockchain infrastructure strategy. The product enters a competitive market alongside significant players like WBTC and cbBTC.