Ask about Function FBTC · freeProtocol Information
Function is building the standard infrastructure that transforms Bitcoin into a capital-efficient, hyperliquid, and composable asset through ƒBTC (FBTC). By enabling Bitcoin to flow freely across financial markets, Function is positioning BTC as the reserve asset for both traditional and decentralized finance. ƒBTC is powered by core contributors Antalpha Prime, Mantle, and Galaxy Digital.
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubCompetitors
Function FBTC history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Aug 5, 2024 to Oct 16, 2026.
All-time high TVL: $1.628b on May 23, 2025. All-time low TVL: $66.95m on Aug 6, 2024.
Daily TVL, Sep 17, 2026 to Oct 16, 2026
| Date | TVL |
|---|---|
| Sep 17, 2026 | $647.67m |
| Sep 18, 2026 | $643.72m |
| Sep 19, 2026 | $684.15m |
| Sep 20, 2026 | $682.37m |
| Sep 21, 2026 | $686.51m |
| Sep 22, 2026 | $719.43m |
| Sep 23, 2026 | $718.16m |
| Sep 24, 2026 | $699.25m |
| Sep 25, 2026 | $701.18m |
| Sep 26, 2026 | $696.9m |
| Sep 27, 2026 | $699.69m |
| Sep 28, 2026 | $699.85m |
| Sep 29, 2026 | $690.55m |
| Sep 30, 2026 | $691.46m |
| Oct 1, 2026 | $692.74m |
| Oct 2, 2026 | $704.07m |
| Oct 3, 2026 | $702.3m |
| Oct 4, 2026 | $705.18m |
| Oct 5, 2026 | $719.12m |
| Oct 6, 2026 | $711.9m |
| Oct 7, 2026 | $709.09m |
| Oct 8, 2026 | $691.53m |
| Oct 9, 2026 | $679.32m |
| Oct 10, 2026 | $684.31m |
| Oct 11, 2026 | $687.91m |
| Oct 12, 2026 | $694.59m |
| Oct 13, 2026 | $676.89m |
| Oct 14, 2026 | $689.71m |
| Oct 15, 2026 | $677m |
| Oct 16, 2026 | $682.31m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $1.177b |
| Dec 31, 2024 | $1.249b |
| Jan 31, 2025 | $1.436b |
| Feb 28, 2025 | $1.144b |
| Mar 31, 2025 | $1.233b |
| Apr 30, 2025 | $1.423b |
| May 31, 2025 | $1.497b |
| Jun 30, 2025 | $1.511b |
| Jul 31, 2025 | $1.517b |
| Aug 31, 2025 | $1.332b |
| Sep 30, 2025 | $1.404b |
| Oct 31, 2025 | $1.298b |
| Nov 30, 2025 | $1.068b |
| Dec 31, 2025 | $975.99m |
| Jan 31, 2026 | $922.84m |
| Feb 28, 2026 | $733.07m |
| Mar 31, 2026 | $732.92m |
| Apr 30, 2026 | $839.2m |
| May 31, 2026 | $792.36m |
| Jun 30, 2026 | $511.02m |
| Jul 31, 2026 | $549.42m |
| Aug 31, 2026 | $665.85m |
| Sep 30, 2026 | $691.46m |
| Oct 16, 2026 (latest) | $682.31m |
TVL at each year end, Dec 31, 2024 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2024 | $1.249b |
| Dec 31, 2025 | $975.99m |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/function-fbtc
Frequently asked questions
What is Function FBTC's TVL?
As of Oct 16, 2026, Function FBTC has $676.66m in total value locked. TVL has increased 4.7% over the past 30 days.
What chains does Function FBTC operate on?
Function FBTC operates on Bitcoin. Bitcoin holds the largest share at 100%.
How does Function FBTC's TVL compare to similar protocols?
Among Bridge protocols tracked by DefiLlama, Function FBTC ranks #12 by TVL. The category holds $57.83b across 157 protocols, and Function FBTC accounts for 1.2% of that total. Other leading protocols include WBTC, Coinbase Bridge, Binance Bitcoin, Unit, Kraken Bitcoin, SolvBTC, Lorenzo enzoBTC, Merlins Seal, Nexus BTC, and NEAR Intents.