What is ether.fi and how does it work?

ether.fi is a crypto platform built around staked ETH. It is best known for weETH, a token that represents ETH staked and restaked through the protocol. Over time ether.fi has added a payment card and other services, and its documentation now describes it as a non-custodial crypto neobank, meaning one account where users spend, borrow, earn and stake while keeping control through smart contracts.

What is ether.fi crypto staking?

When you stake ETH with ether.fi, you receive eETH or weETH. Both earn staking rewards and can be moved or used in other apps, the same idea explained in what is liquid staking?

ether.fi also restakes that ETH through EigenLayer, which makes eETH a liquid restaking token. A risk review by Prisma Risk said ether.fi acts as a layer over EigenLayer so users can deposit less than the 32 ETH a validator needs. Restaking adds extra slashing and smart contract risk, covered in what is restaking?

The same review noted limits to the non-custodial label. Large stakers can hold their own validator keys, but most keys behind eETH were managed by ether.fi. Withdrawals can take from two days to several months, depending on Ethereum's exit queue.

What is weETH?

weETH is the wrapped version of eETH. The two differ in how rewards show up:

• eETH rebases, so the number of tokens in your wallet rises as rewards accrue.
• weETH does not rebase. Your token count stays the same, and each weETH is worth a growing amount of eETH.

Many DeFi apps handle a fixed balance more easily, which is why weETH is widely used as collateral. ether.fi's help center says weETH withdrawals are not handled in its app. Holders send it to an Ethereum address and withdraw through a supported interface.

What is ether.fi Cash and the ether.fi card?

ether.fi Cash is a Visa card that ether.fi describes as a crypto-native credit card with cashback. Its docs describe two ways to pay:

1. Direct Pay, which spends a balance held in the account.
2. Borrow Mode, which borrows against crypto held as collateral so the user does not sell it.

How much can be borrowed depends on the collateral. As of October 2026, the help center lists app limits of 81% of value for stablecoins such as USDC, 55% for ETH and weETH, and 20% for the ETHFI token. If collateral prices fall, the loan can be liquidated, and the legacy system sold half the collateral first. Card basics are explained in how do crypto cards work?

The card is only offered in listed countries, plus about 30 US states and Washington, DC. Anyone in an unlisted place cannot get either the virtual or physical card.

What is the ETHFI token?

ETHFI is ether.fi's governance token, used to vote on the protocol, according to Trust Wallet. It can also be pledged as card collateral, though at a much lower borrowing limit than stablecoins.