Aave Labs assessed Circle’s wrapped bitcoin token, cirBTC, as meeting the technical conditions for listing on Aave’s Ethereum market, according to Foresight News, which published its report on November 10, 2026, at 23:31:30 UTC+08:00. The assessment was posted to Aave’s governance forum; it did not establish that a listing had been approved.
Circle issues cirBTC with a target of 1:1 bitcoin reserves. At the time of the assessment, its Ethereum mainnet supply was approximately 910.15 cirBTC, valued at about $70.12 million.
Aave Labs also identified limits to what the available evidence could establish. Contract upgrades, transfer pauses and address freezes were each controlled by a single key, with no on-chain timelock. An audit report for the Cross-Chain Token Service (CCTS) framework, which can mint cirBTC on Ethereum, had not been provided. Reserve-proof data had repeatedly reported reserves below supply, but the reason could not be determined from on-chain information.
