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Bitget has reported a significant increase in user-held Bitcoin, with BTC balances rising over 45% month-on-month in July according to its latest Proof-of-Reserves data. The cryptocurrency exchange recorded the strongest growth across all major assets tracked on its platform.
The Victoria, Seychelles-based exchange saw BTC held by users grow from 6,594 BTC in June to 9,531 BTC in July. USDT holdings experienced a 21% increase, climbing from approximately 1.61 billion to nearly 1.95 billion, whilst ETH balances rose 31% from 148,754 ETH to 195,466 ETH. USDC holdings grew by 14%.
The surge follows ongoing industry efforts to promote transparent reserve practices. Bitget publishes real-time reserve data via Merkle Tree infrastructure and open-source verification tools. As of 23rd July, the platform maintains a reserve ratio of over 200% across major assets, double the industry benchmark of 100%.
Gracy Chen, CEO at Bitget
"This increase in on-platform user assets, especially Bitcoin, shows a bit of the broader trend in user behaviour, where traders and institutions increasingly may favour exchanges that allow independent asset verification," said Gracy Chen, CEO at Bitget. "Our priority will always be to keep maintaining Bitget as one of the largest most secure platforms for crypto trading."
The July growth corresponds with improved market sentiment and heightened institutional interest in digital assets, particularly following Bitcoin's price stabilisation above the $110,000 threshold.
Bitget's Proof-of-Reserves methodology includes monthly snapshots and daily updates of asset balances, matched against liabilities through publicly auditable cryptographic proofs. The platform's reserve transparency serves as a key differentiator as global regulators intensify demands for accountability from centralised exchanges.
For July, all reserve figures exceed the 100% mark across BTC, ETH, USDT, and USDC. The exchange remains one of the few top-tier platforms to continuously publish real-time snapshots for user review, transparency increasingly valued by both retail and institutional users seeking safeguards against mismanagement or opaque balance sheet practices.
Established in 2018, Bitget is a cryptocurrency exchange and Web3 company serving over 120 million users in 150+ countries and regions. The exchange offers copy trading features and other trading solutions, whilst providing real-time access to cryptocurrency prices.
