$CRCLX Circle has launched cirBTC, a wrapped Bitcoin token backed 1:1 by Bitcoin reserves on the native chain, deployed for the first time on the Ethereum mainnet and its own Arc blockchain.


This move is straightforward: Bitcoin's market capitalization exceeds $1.7 trillion, yet it has generated almost no DeFi activity, and Circle is positioning itself as the infrastructure layer to change this situation.
The impact on institutions is immediate. As Bitcoin ETFs reverse months of capital outflows, new capital is flowing into Bitcoin investments, and the demand for yield-bearing Bitcoin products is structurally increasing—while Circle is establishing this pipeline ahead of competitors.
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