According to Dune Analytics, WBTC supply on Aave’s Ethereum network surpassed 37,000 tokens in September, amounting to over $2 billion at current prices. This comes amid skepticism among retail investors about the security of WBTC’s Bitcoin backing.
On August 9, BitGo, the custodian for WBTC’s Bitcoin, transferred partial control of the Bitcoin multisig to exchange BiT Global, raising concerns in the ecosystem. Despite these concerns, Aave’s total value locked (TVL) continues to grow.