Bitget Expands Proof of Reserves Asset Coverage to Over 20 Assets

Bitget has expanded its Proof of Reserves (PoR) asset coverage from the previous four to over 20 assets. Users can now check not only the exchange's reserve assets by category but also whether their personal assets are included in specific snapshots. In an official announcement on November 11, Bitget stated that users can view reserve data for Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USDC, XRP, Solana (SOL), Dogecoin (DOGE), Binance Coin (BNB), Hyperliquid (HYPE), and Ondo Finance (ONDO) through its PoR page.

The publicly listed assets include BGB, BTC, USDT, USDG, ETH, USDC, XRP, SOL, HYPE, DOGE, BNB, XAUT, Tron (TRX), SUI, TAO, Chainlink (LINK), ONDO, ADA, PI, and NEAR. While the official announcement describes the supported range as 'over 20 assets,' a source reference lists 19 items, showing a discrepancy. Users can check reserve ratios by asset, their own asset size, and whether reserves meet requirements. For multi-chain assets, users can view holdings per network to see how reserves are distributed across different chains and assets.

Individual users can use the 'Proof of Assets' feature to verify if their assets are included in PoR snapshots. The announcement provides audit dates, snapshot times, Merkle hashes, encrypted user identifiers, nonces, Merkle leaf nodes, and asset quantities. Users can download this data for public verification.

Bitget's PoR program began in December 2022. Its August 2026 report marked the 45th consecutive monthly report, with total reserves at 122%. The August snapshot showed user holdings of 26,811 BTC, 123,688 ETH, 1.4535 billion USDT, and 19.0685 million USDC. Bitget explained that it publicly shares reserve ratios, wallet balances, and cryptographic proofs.

A 122% reserve ratio means the reported reserves exceeded user assets in the snapshot, but this is not a guarantee of overall financial health or future payment ability. PoR compares exchange-held reserves to user assets at specific points in time. Merkle tree verification allows users to confirm their asset inclusion without revealing all personal information.

The key update focuses on expanding the scope of verifiable assets rather than the reserve ratio itself. Users can now check both asset-specific reserve details and whether their holdings are included in the same snapshot. However, it's important to distinguish between the 'over 20' total range and the actual listed assets for each report. For comparison across reports, users must separately verify supported assets and snapshot times.