Will Cardano have an equivalent of Wrapped BTC and Wrapped ETH written in Plutus?

Wrapped BTC and Wrapped ETH built in Plutus would be a great way to tab into more liquidity for the Cardano ecosystem.

Is anyone working already on something like this?

Is it possible to create wrapped tokens in Cardano?

Yes. They already built a bridge to SingularityNET AGI token trough ERC20 converter. Bringing ERC20 to Cardano - IOHK Blog
And I think next month they are deploying a bridge to Nervos blockchain where everyone can just wrap their Nervos CKBytes into ADA tokens and use ADA wallets. Nervos partnership to build the first cross-chain bridge with Cardano - IOHK Blog