Coinbase announced on October 15 that it would list tokenized Bitcoin asset Wrapped Bitcoin (WBTC) on its professional exchange from October 19.
- Coinbase Pro will open deposits for WBTC on October 19; once liquidity has been established, traders can begin trading the asset
- With over 105,000 WBTC on Ethereum (ETH), it is the most popular form of tokenized Bitcoin (BTC)
- Tokenized Bitcoin as a whole has been rising in value alongside the growth of DeFi, with over $1 billion of value
- Coinbase Pro has added several tokens in 2020, including Balancer (BAL), yearn.finance (YFI), Loopring (LRC), Compound (COMP) and Maker (MKR)
- Assets listed on Coinbase Pro are usually followed by listing on its retail exchange
- Coinbase Pro offloads transaction fees onto users