BlockBeats News, August 13th, CirBTC, the bitcoin tokenized asset launched by Circle, is now live on Ethereum but with a very limited scale. According to the latest data, there are only about 40 circulating cirBTC, much less than WBTC and Coinbase's cbBTC.CirBTC officially went live on Ethereum on June 8th, not on August 12th. Ethereum contract data shows a maximum total supply of about 40.02 cirBTC with 11 holding addresses. Circle stated that eligible institutional participants can mint and redeem cirBTC through Circle Mint, with Ethereum being the only network live currently and future support for Circle's native chain Arc and more networks.Regarding asset custody, CirBTC is issued by Circle International Bermuda Limited, with the underlying bitcoin custodied by Circle National Trust and specifically segregated for the benefit of cirBTC holders. Circle mentioned that the underlying BTC is segregated from the company's own assets. As of August 11th reserve data, the cirBTC supply was 40.02159077 cirBTC with BTC reserves of 42.5070808 BTC; Circle also publicly disclosed reserve addresses and balances for verification through on-chain Bitcoin data.In terms of reserve proof, Circle adopts Chainlink's Proof of Reserve mechanism instead of traditional monthly attestations. Chainlink's solution publishes verified reserve data on-chain, enabling continuous monitoring by users and protocols to ensure the tokenized asset is fully collateralized.However, compared to mainstream BTC-wrapped assets, cirBTC is still in its early stages. The Defiant cited CoinGecko data indicating WBTC has a circulating supply of about 116,100 with a market cap of around $7.362 billion; cbBTC has a circulating supply of about 97,200 with a market cap of approximately $6.162 billion. In contrast, cirBTC has not yet even formed a traceable market price and market cap.Circle positions cirBTC as an institutional-focused "neutral" bitcoin-collateralized asset, but this "neutrality" is mainly a commercial orientation and not a decentralized issuance. Circle mentioned it does not operate a centralized exchange, decentralized exchange, or lending protocol directly competing with cirBTC, and cirBTC minting and redemption are still facilitated through Circle Mint.