What is WETH, and is it the same as ETH?

WETH, short for wrapped ether, is a token that represents ETH one for one on Ethereum and other networks. It is worth the same as ETH because a smart contract will always swap one for the other, but it follows the ERC-20 token rules that native ETH does not. In practice, most people meet WETH in trading apps and NFT marketplaces.

Is WETH the same as ETH?

Not quite. They have the same value but are different assets on the blockchain.

ETH is the native currency of Ethereum. The protocol itself tracks each account's ETH balance, and new ETH is issued to validators. WETH is a token tracked inside a smart contract. When someone deposits ETH into the WETH contract, it mints the same amount of WETH. When WETH is redeemed, the contract burns it and pays out ETH.

The most practical difference is fees. Ethereum's gas fees are paid in ETH, and ethereum.org notes that WETH cannot be used to pay gas. A wallet holding only WETH can still be stuck, which is a common cause of the insufficient funds for gas error.

Is Ethereum an ERC-20 token?

No. ETH predates the ERC-20 standard, which was created in November 2015 by Fabian Vogelsteller and Vitalik Buterin. Because ETH does not follow that rulebook, apps cannot treat it the same way as other tokens.

Why does WETH exist?

Wrapping solves that mismatch. Ethereum.org explains that WETH lets ETH trade directly against other ERC-20 tokens, and lets apps handle ETH and tokens through one interface instead of two. It is used heavily in DeFi. According to ethereum.org, roughly 3% of circulating ETH sits in the WETH contract.

NFT marketplaces are another example. OpenSea's help center says WETH is used to make offers on Ethereum NFTs, because it allows pre-approved bids that can be filled later without further action from the bidder.

The idea is similar to wrapped bitcoin, with one important difference. WBTC relies on a custodian holding real bitcoin. WETH is backed by ETH held in a public smart contract, with no company in the middle. Ethereum.org describes the contract as simple, heavily used and formally verified.

How do you unwrap WETH?

Unwrapping means sending WETH back to the contract and receiving the same amount of ETH. Many wallets and apps present this as a swap from WETH to ETH. Family's wallet, for example, has users choose WETH, enter an amount and pick ETH as the asset to receive. Wrapping and unwrapping each cost a gas fee, paid in ETH.

One caution applies. Other "WETH-like" tokens exist on different chains and inside individual apps, and ethereum.org warns they may work differently or carry different risks. The official Ethereum mainnet contract address is listed on ethereum.org, and checking a token's contract before using it helps avoid look-alikes.