{"license":"CC-BY-4.0","licenseUrl":"https://creativecommons.org/licenses/by/4.0/","attribution":"ChainChoice (https://chainchoice.io)","category":"wrapped_assets","evidenceReadAt":"2026-11-10","generatedAt":"2026-11-12","criteria":[{"id":"custody_control","label":"Who can move the bitcoin, and how many of them","weight":32},{"id":"redemption_access","label":"Whether you can redeem, or only an approved institution can","weight":28},{"id":"reserve_proof","label":"How tightly the reserve is actually proven","weight":22},{"id":"published_cost","label":"What it costs, published on a page with a date","weight":18}],"providers":{"tbtc":{"custody_control":{"s":9,"q":"tBTC uses a randomly selected group of operators running nodes on the Threshold Network to secure deposited Bitcoin through threshold cryptography | tBTC requires a threshold majority agreement before operators can perform any action with your Bitcoin.","u":"https://docs.threshold.network/tbtc-v2","d":"2026-11-10"},"redemption_access":{"s":8,"q":"In contrast, tBTC is a decentralized and trust-minimized bridge between Bitcoin and DeFi. It provides Bitcoin holders with secure, open access to the broader DeFi ecosystem | The New Unified Bitcoin Router by Threshold enables seamless tBTC minting, deminting, cross-chain bridging, and staking -…","u":"https://docs.threshold.network/tbtc-v2","d":"2026-11-10"},"reserve_proof":{"s":6,"q":"By rotating the selection of operators bi-weekly, tBTC protects against any individual or group of operators colluding to fraudulently seize the underlying deposits.","u":"https://docs.threshold.network/tbtc-v2","d":"2026-11-10"},"published_cost":{"s":10,"q":"The mint and redemption fee is 0.2% or 20 basis points | The mint fee was initially offset to support adoption; however, following a recent governance decision, it was reinstated on April 15, 2026. | Minting and redemption fees are set at 20 basis points to support decentralized bridge operations.","u":"https://docs.threshold.network/tbtc-v2","d":"2026-11-10"}},"lbtc":{"custody_control":{"s":6,"q":"The passive allocation (40-50% of backing) stays in Lombard's decentralized Security Consortium custody, earning nothing and available for redemptions.","u":"https://docs.lombard.finance/use/lbtc","d":"2026-11-10"},"redemption_access":{"s":4,"q":"You can redeem your BTC at any time. The process takes up to 10 days due to Lombard's redemption and rebalancing cycle. Withdrawals are funded from the passive allocation, so redemptions do not normally require unwinding the deployed positions.","u":"https://docs.lombard.finance/use/lbtc","d":"2026-11-10"},"reserve_proof":{"s":8,"q":"The result is published on-chain every 10 minutes as an updated reserve attestation | Anyone can query the on-chain contract to verify that reserves meet or exceed token supply | eth_call LBTC PoR feed 0x70c158c7731Da2C14BC84aEBa39A4FF703DDc7d2 latestRoundData() at block 26383724 (Ethereum):…","u":"https://docs.lombard.finance/learn/transparency/oracles","d":"2026-11-10"},"published_cost":{"s":9,"q":"Amount: 0% (Ethereum mints authorize a small network gas fee) | Amount: 0.0001 LBTC (fixed) | Applies to: All redemptions on all chains | Amount: 20% of covered-call strategy gains (there is no protocol operating fee) | Last updated on November 2, 2026","u":"https://docs.lombard.finance/use/lbtc/fees","d":"2026-11-10"}},"wbtc":{"custody_control":{"s":4,"q":"The key shares required to authorize vault actions are geographically distributed across different international regions. | The premier custodian framework for WBTC involves a compliance alliance between BiT Global and BitGo","u":"https://docs.wbtc.network/how-wbtc-works/custody-and-security","d":"2026-11-10"},"redemption_access":{"s":2,"q":"Only identity-verified institutions, approved through DAO governance, can mint and burn WBTC.","u":"https://wbtc.network/","d":"2026-11-10"},"reserve_proof":{"s":9,"q":"Every WBTC is fully collateralized by corresponding Bitcoin at a 1:1 ratio, verifiable on-chain. | Updated at: 11/10/2026 09:37 | The Bitcoin addresses below are managed and secured by the custodian.","u":"https://wbtc.network/transparency","d":"2026-11-10"},"published_cost":{"s":3,"q":"the fees start at 0.25% for minting / redeeming 0-10 BTC/WBTC and decrease from there to 0.10% mint / 0.14% redeem. | Nov 18, 2021","u":"https://blog.coinlist.co/improving-our-wrapped-bitcoin-wbtc-and-wrapped-filecoin-efil-fee-schedule/","d":"2026-11-10"}},"cbbtc":{"custody_control":{"s":4,"q":"Coinbase wrapped assets are backed 1:1 and held in custody by Coinbase | The underlying asset backing Coinbase wrapped assets will never be sold, transferred, or utilized for any other purpose.","u":"https://www.coinbase.com/cbbtc","d":"2026-11-10"},"redemption_access":{"s":3,"q":"Wrapped assets are only available to Coinbase customers whose accounts are in good standing and who are located in the US (excluding New York State), UK, EEA states, Singapore, Australia, and Brazil.","u":"https://www.coinbase.com/cbbtc","d":"2026-11-10"},"reserve_proof":{"s":4,"q":"\"name\": \"cbBTC Reserves\" | \"proxyAddress\": \"0xcBe87Dc0Cf9d807848a3E703B01A90B28eCFb2a7\" | \"threshold\": 0.5 | \"heartbeat\": 86400 | eth_call cbBTC PoR feed 0xcBe87Dc0Cf9d807848a3E703B01A90B28eCFb2a7 latestRoundData() at block 26383724 (Ethereum): 97793.92928487, updatedAt 2026-11-10T00:41:23Z.","u":"https://reference-data-directory.vercel.app/feeds-mainnet.json","d":"2026-11-10"},"published_cost":{"s":2,"q":"When users send eligible assets from Coinbase to Base, it will automatically be converted 1:1 to a Coinbase wrapped asset. | Notably, wrapped assets will not have a separate order book or trading pair on Coinbase.","u":"https://www.coinbase.com/cbbtc","d":"2026-11-10"}},"solvbtc":{"custody_control":{"s":3,"q":"SolvBTC’s reserve assets are divided into two categories: core reserves and innovative reserves. Native BTC and BTCB currently form the core reserves, while WBTC, FBTC, cbBTC, BTC.b, and tBTC are classified as innovative reserves.","u":"https://docs.solv.finance/llms-full.txt","d":"2026-11-10"},"redemption_access":{"s":4,"q":"Submit your redemption request any day from Sunday to Saturday. Processing occurs the next Monday—shifts to the following business day if Monday is a holiday. | Flow: The user burns SolvBTC through this solution to instantly receive WBTC/BTCB, etc., stored in the Safe Vault liquidity pool.","u":"https://docs.solv.finance/llms-full.txt","d":"2026-11-10"},"reserve_proof":{"s":3,"q":"This innovative framework enables users to verify in real-time that every SolvBTC token is backed 1:1 by either Bitcoin or a trusted wrapped Bitcoin asset.","u":"https://docs.solv.finance/llms-full.txt","d":"2026-11-10"},"published_cost":{"s":5,"q":"**Minting Fees:** A fee applies, varying by the wrapped Bitcoin used, as most are converted back to BTC to maintain the tiered reserve’s integrity. | **Redemption Fees:** Currently no fees for redeeming SolvBTC, saving you costs. | | Deposit Fee | 0%–0.3% (varies by wrapped BTC & chain) |","u":"https://docs.solv.finance/llms-full.txt","d":"2026-11-10"}},"fbtc":{"custody_control":{"s":3,"q":"In the case of FBTC, the custodians manage users’ assets in an MPC address whose key shares are held by several trusted institutions. | Function’s Security Council is a group of independent and trusted institutions that currently include Antalpha, Mantle, and Cobo.","u":"https://docs.fbtc.com/llms-full.txt","d":"2026-11-10"},"redemption_access":{"s":2,"q":"An entity or a party that mints FBTC from BTC and burns FTBC into BTC is known as a merchant. A merchant can be an institution, permissioned protocol, or network. Each merchant will have to fulfill certain requirements and complete Know Your Business (KYB) before onboarding. | 3.","u":"https://docs.fbtc.com/llms-full.txt","d":"2026-11-10"},"reserve_proof":{"s":6,"q":"FBTC is fully backed on a 1:1 basis with BTC, Bitcoin Reserve Address List is public and can be verified at any time. | bc1q7jgulg69frc8zuzy0ng8d5208kae7t0twyfjwm | eth_call FBTC PoR feed 0x75A0d3264a949C2C920d7F25Df174af1FaF73399 latestRoundData() at block 26383724 (Ethereum): 8323.38640396…","u":"https://docs.fbtc.com/llms-full.txt","d":"2026-11-10"},"published_cost":{"s":1,"q":"Currently, merchant's fee for mint and burn operations is based on a tiered rate design. For detailed rates, please contact <inquiry@fbtc.com> | * **Bridge Fee**: Users need to pay a fee for using the bridge.","u":"https://docs.fbtc.com/llms-full.txt","d":"2026-11-10"}},"btcb":{"custody_control":{"s":2,"q":"BTCB is a pegged bitcoin on Binance Chain and Binance Smart Chain issued by Binance.com with a 1:1 peg to BTC locked on the Bitcoin blockchain. The 1:1 peg means that the amount of wrapped BTCB is equal to the amount of BTC locked in a public address.","u":"https://www.bnbchain.org/en/blog/btcb-on-binance-smart-chain-101","d":"2026-11-10"},"redemption_access":{"s":4,"q":"When you exchange your BTC for BTCB, your BTC remains locked, and you can redeem it back at any time by depositing back BTCB.","u":"https://www.bnbchain.org/en/blog/btcb-on-binance-smart-chain-101","d":"2026-11-10"},"reserve_proof":{"s":1,"q":"You can verify the current supply for all locked BTC and issued BTCB through the Proof of Assets webpage | The amount of locked BTC may not be precisely the same as the wrapped BTC due to the delays caused by the extensive auditing process.","u":"https://www.bnbchain.org/en/blog/btcb-on-binance-smart-chain-101","d":"2026-11-10"},"published_cost":{"s":2,"q":"2021.6.23 • 3 min read | When you exchange your BTC for BTCB, your BTC remains locked, and you can redeem it back at any time by depositing back BTCB.","u":"https://www.bnbchain.org/en/blog/btcb-on-binance-smart-chain-101","d":"2026-11-10"}}}}