Total Value Locked$347.03m
TVL by Chain
Bitcoin$347.03m
Ethereum$0
Key Metrics
Fees 30d$43,432
Fees 30d by chain
Ethereum$43,432
Fees 7d$20,315
Ethereum$20,315
Fees 24h$4,438
Ethereum$4,438
Cumulative Fees$2.83m
Ethereum$2.83m
Revenue 30d$43,432
Revenue 30d by chain
Ethereum$43,432
Revenue 7d$20,315
Ethereum$20,315
Revenue 24h$4,438
Ethereum$4,438
Cumulative Revenue$2.83m
Ethereum$2.83m
Holders Revenue 30d$0
Holders Revenue 30d by chain
Ethereum$0
Holders Revenue 7d$0
Ethereum$0
Holders Revenue 24h$0
Ethereum$0
Cumulative Holders Revenue$0
Ethereum$0
Bridge Volume 30d$31.21m
Bridge Volume 30d by chain
Ethereum$16.39m
Bitcoin$14.82m
Bridge Volume 7d$12.41m
Bitcoin$9.24m
Ethereum$3.17m
Bridge Volume 24h$2.3m
Bitcoin$2.21m
Ethereum$83,868
Protocol Information
tBTC is Threshold's decentralized and permissionless bridge to bring BTC to the Ethereum network. tBTC has been designed to allow bitcoin holders to participate in Ethereum's Decentralized Finance (DeFi) applications. Users wishing to utilize their bitcoin on Ethereum can use the tBTC decentralized bridge to deposit their bitcoin into the system and get a minted tBTC token in their Ethereum wallet
Audits:
Methodology
TVL: BTC on btc chainView code on GitHubFees: tBTC treasury fees from minting and redemptions, tracked from Bank balance movements to the Bridge treasury. These movements contain the post-rebate amounts, so RebateStaking reductions are excluded.View code on GitHubRevenue: All tBTC treasury fees paid by minting and redemptions are protocol revenue.View code on GitHubHolders Revenue: View code on GitHubBridge Volume: Value of assets sent through the bridge, counted once on the chain they leave fromView code on GitHubCompetitors
tBTC history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Aug 19, 2021 to Oct 28, 2026.
All-time high TVL: $736.86m on Oct 7, 2025. All-time low TVL: $205,538 on Dec 28, 2022.
Daily TVL, Sep 29, 2026 to Oct 28, 2026
| Date | TVL |
|---|---|
| Sep 29, 2026 | $358.8m |
| Sep 30, 2026 | $359m |
| Oct 1, 2026 | $359.68m |
| Oct 2, 2026 | $365.25m |
| Oct 3, 2026 | $364.17m |
| Oct 4, 2026 | $363.06m |
| Oct 5, 2026 | $370.19m |
| Oct 6, 2026 | $367.65m |
| Oct 7, 2026 | $365.91m |
| Oct 8, 2026 | $355.17m |
| Oct 9, 2026 | $345.44m |
| Oct 10, 2026 | $348.71m |
| Oct 11, 2026 | $350.29m |
| Oct 12, 2026 | $354.34m |
| Oct 13, 2026 | $345.87m |
| Oct 14, 2026 | $353.49m |
| Oct 15, 2026 | $346.28m |
| Oct 16, 2026 | $348.42m |
| Oct 17, 2026 | $344.11m |
| Oct 18, 2026 | $344.09m |
| Oct 19, 2026 | $348.12m |
| Oct 20, 2026 | $344.7m |
| Oct 21, 2026 | $349.56m |
| Oct 22, 2026 | $355.25m |
| Oct 23, 2026 | $343.37m |
| Oct 24, 2026 | $339.67m |
| Oct 25, 2026 | $342.64m |
| Oct 26, 2026 | $338.92m |
| Oct 27, 2026 | $342.03m |
| Oct 28, 2026 | $347.03m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $526.39m |
| Dec 31, 2024 | $442.39m |
| Jan 31, 2025 | $498m |
| Feb 28, 2025 | $386m |
| Mar 31, 2025 | $374.94m |
| Apr 30, 2025 | $442.85m |
| May 31, 2025 | $343.03m |
| Jun 30, 2025 | $579m |
| Jul 31, 2025 | $673.15m |
| Aug 31, 2025 | $638.9m |
| Sep 30, 2025 | $678.48m |
| Oct 31, 2025 | $645.04m |
| Nov 30, 2025 | $548.57m |
| Dec 31, 2025 | $433.08m |
| Jan 31, 2026 | $500.44m |
| Feb 28, 2026 | $388.16m |
| Mar 31, 2026 | $403.36m |
| Apr 30, 2026 | $415.31m |
| May 31, 2026 | $365.06m |
| Jun 30, 2026 | $306.21m |
| Jul 31, 2026 | $317.87m |
| Aug 31, 2026 | $345.95m |
| Sep 30, 2026 | $359m |
| Oct 28, 2026 (latest) | $347.03m |
TVL at each year end, Dec 31, 2021 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2021 | $8.45m |
| Dec 31, 2022 | $883,307 |
| Dec 31, 2023 | $54.99m |
| Dec 31, 2024 | $442.39m |
| Dec 31, 2025 | $433.08m |
Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $274,053 | $274,053 | $0 |
| Dec 2024 | $239,286 | $239,286 | $0 |
| Jan 2025 | $238,994 | $238,994 | $0 |
| Feb 2025 | $192,665 | $192,665 | $0 |
| Mar 2025 | $126,454 | $126,454 | $0 |
| Apr 2025 | $223,199 | $223,199 | $0 |
| May 2025 | $281,683 | $281,683 | $0 |
| Jun 2025 | $84,277 | $84,277 | $0 |
| Jul 2025 | $59,877 | $59,877 | $0 |
| Aug 2025 | $81,863 | $81,863 | $0 |
| Sep 2025 | $91,280 | $91,280 | $0 |
| Oct 2025 | $288,851 | $288,851 | $0 |
| Nov 2025 | $89,973 | $89,973 | $0 |
| Dec 2025 | $89,171 | $89,171 | $0 |
| Jan 2026 | $17,909 | $17,909 | $0 |
| Feb 2026 | $8,982 | $8,982 | $0 |
| Mar 2026 | $12,155 | $12,155 | $0 |
| Apr 2026 | $60,939 | $60,939 | $0 |
| May 2026 | $49,865 | $49,865 | $0 |
| Jun 2026 | $70,630 | $70,630 | $0 |
| Jul 2026 | $51,218 | $51,218 | $0 |
| Aug 2026 | $31,940 | $31,940 | $0 |
| Sep 2026 | $35,760 | $35,760 | $0 |
| Oct 2026 (to date) | $42,070 | $42,070 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/tbtc
Frequently asked questions
What is tBTC's TVL?
As of Oct 28, 2026, tBTC has $347.03m in total value locked. TVL has decreased 4.4% over the past 30 days.
What chains does tBTC operate on?
tBTC operates on 2 chains: Bitcoin and Ethereum. Bitcoin holds the largest share at 100%.
How much has tBTC generated in fees and revenue?
Over the past 30 days, tBTC generated $43,432 in fees. Of that, $43,432 was protocol revenue. Based on the trailing year, the annualized rate is $562,013 in fees and $562,013 in revenue.
How does tBTC's TVL compare to similar protocols?
Among Decentralized BTC protocols tracked by DefiLlama, tBTC ranks #1 by TVL. The category holds $385.57m across 6 protocols, and tBTC accounts for 90% of that total. Similar protocols include Chain Fusion, SUBFROST, BitSafe CBTC, Zeus Network, and iBTC Network.