Definition. Wrapped BTC (WBTC) Balance is the amount of BTC (USD) held by BitGo as backing for Wrapped Bitcoin (WBTC), the first ERC20 token backed 1:1 with Bitcoin and designed to represent Bitcoin on the Ethereum blockchain.

Technical. BitGo is the custodian responsible for minting new WBTC ERC20 tokens and guaranteeing that newly minted tokens are backed by actual BTC.

This is the Point-in-Time (PiT) variant of WBTC Balance. PiT metrics are strictly append-only and their history is immutable. The historic data does not necessarily reflect the best current knowledge, but the information at the time when a data point was first computed. PiT metrics are ideal candidates for applications in model backtesting and related quantitative purposes. Read our article on PiT metrics for more information.