Market cap
$2.03K
-0.67 %
Volume (24h)
$392.04
-0.67 %
Circulating supply
14 PBTC
Total supply
14 PBTC
Max. supply
21,000,000 PBTC
pTokens BTC (PBTC)
$ 145.03
-0.67 %
Main info
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Key data
updated $0Market cap$2.03K
Volume 24h$392.04
Circulating supply140% of max 21M
pTokens BTC, or PBTC, is a tokenized version of Bitcoin that lives on other blockchains, such as Ethereum. Every PBTC in circulation is backed 1:1 by real Bitcoin locked in the pTokens system, so it's essentially your BTC with the ability to travel across chains. Think of it as a bridge that lets Bitcoin holders tap into smart contracts and DeFi without selling their coins.
Frequently asked questions
What is PBTC and how is it different from regular Bitcoin?
PBTC is a tokenized copy of Bitcoin that exists on other blockchains, like Ethereum, while the original BTC sits locked in the pTokens system. The key difference is usability: native BTC can't interact with smart contracts, but PBTC can be lent, traded, or used as collateral in DeFi apps. The peg is strictly 1:1, so one PBTC always represents one BTC.
How does the pTokens technology actually work?
When you send BTC into the pTokens bridge, it gets locked and an equal amount of PBTC is minted on your chosen chain. The system relies on a network of validators running Trusted Execution Environments (TEEs) — secure hardware enclaves that verify cross-chain transactions without any single company controlling the process. Redeeming works in reverse: PBTC is burned and your original BTC is released back to you.
How is PBTC issued and is the supply capped?
PBTC isn't mined and there was no pre-mine — tokens are only created when real BTC is locked, and destroyed when that BTC is withdrawn. This means the circulating supply always mirrors the amount of Bitcoin held in custody by the system. It's a fully collateralized model rather than an algorithmic one, which is what keeps the 1:1 backing intact.
Where can I store and use PBTC?
On Ethereum, PBTC is an ERC-20 token, so any Ethereum-compatible wallet works — MetaMask, Trust Wallet, or a hardware wallet like Ledger. From there you can send it to DeFi platforms for lending, trading, or providing liquidity. Whenever you want your Bitcoin back, you can redeem PBTC through the pTokens bridge and receive native BTC.