ether.fi Liquid Staking & Restaking: status and timeline

Milestones

Next · Ethereum Prague upgrade

Seed funding: $5.3MFeb 2023Complete.
Series A funding: $23M from Bullish CapitalFeb 2024Complete.
Liquid restaking grows to $3B TVLQ1 2026Complete.
Separate restaking into weETHs, powered by SymbioticAug 2026Complete.

Most important updates

Upcoming

Q1 2027Ethereum Prague upgrade (next)

Current obstacles

Restaking slashing and impermanent lossRestaking carries slashing risk from slippage and validator misconduct. Separating eETH and weETHs reduces but does not eliminate this risk.
Multi-protocol risk aggregationUsers restaking across many protocols face compounded smart contract and validator risks, difficult to quantify at launch.

Physics limits

Ethereum validator issuance and rewardsEthereum's base staking rewards decrease as more ETH is staked. More TVL means lower yield per unit for all stakers.
EigenLayer and Symbiotic maturityRestaking benefits depend on the security and adoption of the underlying protocols. Early protocols are less battle-tested.

How it works

3 parts

Deposit ETH

Receive eETH

Users deposit Ethereum and receive eETH, a liquid staking token. eETH accrues staking rewards automatically.

Earn multiple yields

Staking, restaking, and loyalty

eETH generates yield from staking, loyalty points, and optional restaking. The token is composable across DeFi.

Optional restaking

Stake eETH into weETHs for Symbiotic

Users deposit eETH into weETHs for additional yield and risk. Symbiotic manages restaking; users keep custody.

Spec sheet

Spec	ether.fi Liquid Staking & Restaking
Total value locked	$11.5 billion^R (reported)
eETH market cap	$504 million^R (reported)
eETH price	$2,270–$2,283^R (reported)
Liquid restaking market share	~66%^R (reported)

^R reported by the company

Update log

2 updates

Aug 2026

Major: ether.fi separates staking and restaking risk by moving restaking to SymbioticPressOther

Feb 2024

Major: ether.fi closes $23M Series A led by Bullish Capital and CoinFundPressFunding

About ether.fi

The team behind ether.fi Liquid Staking & Restaking

ether.fi

Liquid staking, Restaking, Neobank

ether.fi is a non-custodial Ethereum restaking platform and neobank enabling users to earn rewards through liquid staking, restaking, and spending via the ether.fi Cash card. The platform separated staking and restaking risks in 2026, moving restaking to Symbiotic.

ether.fi controls ~2/3 of liquid restaking, with $11.5B TVL as of Q3 2026 after cutting EigenLayer exposure via Symbiotic.
The ether.fi Cash card exceeded $800M lifetime spend, with $600M in 2026. Q1 2026 saw $170M spend, up 35% from prior quarter.
eETH traded at $2,270–$2,283 in April 2026 with $504M market cap; Cash migrated to OP Mainnet in February 2026.

ether.fi (opens ether.fi)Company profile →

Founded: 20224 yrs
Headquarters: Cayman Islands
Status: Private
Valuation: private
Staff: ~41Sep 2025
Raised: $28M2 rounds
Last round: Series A · $23MFeb 2024
Works in: CryptoData & restaking
Coverage: 2 programs · 3 updateslatest 1 Aug 2026checked 11 Oct
Lead investors: Bullish CapitalCoinFundNorth Island VenturesChapter One
Partners: Symbiotic (opens symbiotic.fi)Visa (opens visa.com)
People: Mike SilagadzeFounder and CEO

Spec

ether.fi Liquid Staking & Restaking

Total value locked

$11.5 billion^R (reported)

eETH market cap

$504 million^R (reported)

eETH price

$2,270–$2,283^R (reported)

Liquid restaking market share

~66%^R (reported)