diff --git a/src/main.rs b/src/main.rs
index 7feaa66..5551139 100644
--- a/src/main.rs
+++ b/src/main.rs
@@ -13,6 +13,7 @@ use neptune_explorer::model::app_state::AppState;
 use neptune_explorer::neptune_rpc;
 use neptune_explorer::rpc::block_digest::block_digest;
 use neptune_explorer::rpc::block_info::block_info;
+use neptune_explorer::rpc::circulating_supply::circulating_supply;
 use neptune_explorer::rpc::pow_puzzle::pow_puzzle;
 use neptune_explorer::rpc::provide_pow_solution::provide_pow_solution;
 use neptune_explorer::rpc::utxo_digest::utxo_digest;
@@ -58,6 +59,7 @@ pub fn setup_routes(app_state: AppState) -> Router {
         .route("/rpc/block_digest/*selector", get(block_digest))
         .route("/rpc/utxo_digest/:index", get(utxo_digest))
         .route("/rpc/pow_puzzle/*address", get(pow_puzzle))
+        .route("/rpc/circulating_supply", get(circulating_supply))
         .route("/rpc/provide_pow_solution", post(provide_pow_solution))
         // -- Dynamic HTML pages --
         .route("/", get(root))
diff --git a/src/rpc/circulating_supply.rs b/src/rpc/circulating_supply.rs
new file mode 100644
index 0000000..8dad818
--- /dev/null
+++ b/src/rpc/circulating_supply.rs
@@ -0,0 +1,69 @@
+use std::sync::Arc;
+
+use axum::extract::State;
+use axum::response::Json;
+use axum::response::Response;
+use neptune_cash::api::export::BlockHeight;
+use neptune_cash::protocol::consensus::block::block_height::BLOCKS_PER_GENERATION;
+use neptune_cash::protocol::consensus::block::block_height::NUM_BLOCKS_SKIPPED_BECAUSE_REBOOT;
+use neptune_cash::protocol::consensus::block::Block;
+use neptune_cash::protocol::consensus::block::PREMINE_MAX_SIZE;
+use tarpc::context;
+
+use crate::http_util::rpc_err;
+use crate::http_util::rpc_method_err;
+use crate::model::app_state::AppState;
+
+/// Return the number of coins that are liquid, assuming all redemptions on the
+/// old chain have successfully been made.
+#[axum::debug_handler]
+pub async fn circulating_supply(State(state): State<Arc<AppState>>) -> Result<Json<f64>, Response> {
+    let s = state.load();
+
+    // TODO: Remove this local declaration once version of neptune-core with
+    // this value public is released.
+    let generation_0_subsidy = Block::block_subsidy(BlockHeight::genesis().next());
+    let block_height: u64 = s
+        .rpc_client
+        .block_height(context::current(), s.token())
+        .await
+        .map_err(rpc_err)?
+        .map_err(rpc_method_err)?
+        .into();
+    let effective_block_height = block_height + NUM_BLOCKS_SKIPPED_BECAUSE_REBOOT;
+    let (num_generations, num_blocks_in_generation): (u64, u32) = (
+        effective_block_height / BLOCKS_PER_GENERATION,
+        (effective_block_height % BLOCKS_PER_GENERATION)
+            .try_into()
+            .expect("There are fewer than u32::MAX blocks per generation"),
+    );
+
+    let mut liquid_supply = PREMINE_MAX_SIZE;
+    let mut liquid_subsidy = generation_0_subsidy.half();
+    let blocks_per_generation: u32 = BLOCKS_PER_GENERATION
+        .try_into()
+        .expect("There are fewer than u32::MAX blocks per generation");
+    for _ in 0..num_generations {
+        liquid_supply += liquid_subsidy.scalar_mul(blocks_per_generation);
+        liquid_subsidy = liquid_subsidy.half();
+    }
+
+    liquid_supply += liquid_subsidy.scalar_mul(num_blocks_in_generation);
+
+    // How much of timelocked miner rewards have been unlocked? Assume that the
+    // timelock is exactly one generation long. In reality the timelock is
+    // is defined in relation to timestamp and not block heights, so this is
+    // only a (pretty good) approximation.
+
+    let mut released_subsidy = generation_0_subsidy.half();
+    for _ in 1..num_generations {
+        liquid_supply += released_subsidy.scalar_mul(blocks_per_generation);
+        released_subsidy = released_subsidy.half();
+    }
+
+    if num_generations > 0 {
+        liquid_supply += released_subsidy.scalar_mul(num_blocks_in_generation);
+    }
+
+    Ok(Json(liquid_supply.to_nau_f64()))
+}
diff --git a/src/rpc/mod.rs b/src/rpc/mod.rs
index 0d9f7ec..4a64f05 100644
--- a/src/rpc/mod.rs
+++ b/src/rpc/mod.rs
@@ -1,5 +1,6 @@
 pub mod block_digest;
 pub mod block_info;
+pub mod circulating_supply;
 pub mod pow_puzzle;
 pub mod provide_pow_solution;
 pub mod utxo_digest;