Is converting BTC to WBTC taxable?

Hello there, I'm trying to understand something about cryptocurrency taxes. I'm holding some Bitcoin (BTC) and I'm considering converting it to Wrapped Bitcoin (WBTC). I'm wondering if this conversion, from one form of cryptocurrency to another, would be subject to taxation in my jurisdiction. Could you please clarify if this kind of transaction triggers any tax obligations? I'm particularly interested in understanding the tax implications, if any, of such a conversion. Thank you for your assistance in this matter.