Brave submits B1 token transparency filing for BAT with 1 gap

The submission comes as Brave continues to scale its user base well beyond the 100 million mark. The company reported 117.6 million monthly active users and 49.5 million daily active users as of May 31, 2026.

BAT’s transparency track record

Brave maintains a public transparency page that details its BAT purchasing activity, including acquisitions made to fund its Brave Rewards program.

Brave allocates 70% of ad revenue to users who opt into seeing privacy-respecting ads, and it purchases BAT on the open market to distribute those rewards. Recent on-chain data shows the company bought 159,174 BAT on October 21, 2025, through the Gemini exchange.

BAT itself is an ERC-20 token on Ethereum, originally launched via an initial coin offering in May 2017. The token has since been bridged to Solana as SPL-BAT, giving it cross-chain availability. The Ethereum contract address, 0x0D8775F648430679A709E98d2b0Cb6250d2887EF, has been live for over eight years now.

Growth trajectory and market context

Brave went from roughly 25 to 38 million monthly active users in prior years to 117.6 million as of mid-2026. Daily active users sitting at 49.5 million suggests strong retention. A ratio of roughly 42% daily-to-monthly active users indicates that people aren’t just downloading Brave and forgetting about it.

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