cbBTC and cbLTC are Coinbase-wrapped representations of Bitcoin and Litecoin. Coinbase states that it holds the underlying coins in custody with 1:1 backing. A token on another network is not a native Bitcoin or Litecoin output.
Coinbase’s current registry lists cbLTC on Base and cbBTC on Base, Ethereum, Solana and Arbitrum. This is issuer-documented network support checked October 4, 2026; it is not an onchain bytecode or reserve-solvency audit.
The notebook / 01
The custody relationship
The token holder relies on the host network, token contract and custodian/redemption arrangement as well as the underlying asset. That risk distinction follows from the documented structure. It should stay visible in any collateral comparison.
The notebook / 02
Redemption has eligibility conditions
Coinbase describes wrapping and unwrapping through supported transfers for eligible customers. Eligibility varies by asset and jurisdiction. Its cbLTC restrictions include New York State. Owning a token onchain does not itself prove access to direct Coinbase redemption; readers must check their own applicable terms.
The notebook / 03
Reserves: read the method before the total
Coinbase provides public cbBTC and cbLTC reserve pages. This research encountered ambiguous displayed timezones, locale/cache differences and rounded totals. The pages are linked as issuer evidence, but their displayed numbers are not ingested as verified daily metrics.
A reserve disclosure is not by itself a full independent solvency audit, and the same backing coins should not be counted again as a separate corporate holding.
Coinbase: cbBTC issuer reserve page ↗Coinbase: cbLTC issuer reserve page ↗
The notebook / 04
cbBTC is not cirBTC
Arc documentation separately lists Circle’s cirBTC. The issuer and token identity differ from Coinbase cbBTC. A market name must preserve the exact collateral instead of treating every wrapped BTC ticker as interchangeable.
Before future integration, match the network, issuer contract registry, token decimals and deployed market parameters. This publication does not ask for approvals, private keys or transfers.