liquidETH, issued by the ether.fi Liquid Protocol smart contracts under the governance of ether.fi tokenholders, is a tokenized DeFi strategy vault interest that represents a share in the automated ETH Yield vault [S1].

Holders deposit wrapped ETH (wETH) or wrapped eETH (weETH) into the ETH Yield vault, and receive a vault share whose value tracks a basket of decentralized finance strategies that the vault allocates to and rebalances onchain [S2]. Rewards accrue through auto-compounding, so returns are reflected in the share value rather than distributed [S2]. Platform fees charged for vault management range from 0% to 2%, varying by vault [S2].

ether.fi describes itself as a decentralized, non-custodial protocol, and the asset is not issued by a single corporate entity; holders retain self-custody of their vault shares rather than holding a claim against a corporate issuer [S1]. Deposited assets are deployed onchain across DeFi positions rather than held by a custodian [S1]. The Liquid service is not available to users in the United States, Canada, or the United Kingdom, with availability determined by account-level country settings or IP-based location detection [S2].

Vault shares are onchain tokens redeemable back into wETH or weETH for the ETH Yield vault [S3]. Redemptions are submitted through the vault, and once processed the underlying assets are sent automatically to the holder's wallet with no manual claim required [S3]. A portion of vault funds is intentionally kept liquid to speed redemptions, though withdrawals may be queued depending on liquidity [S2].

<Sources
  retrievedAt="2026-09-10"
  items={[
    { id: "S1", url: "https://www.ether.fi/earn" },
    { id: "S2", url: "https://help.ether.fi/en/articles/517109-how-liquid-works" },
    { id: "S3", url: "https://help.ether.fi/en/articles/284654-how-to-withdraw-from-liquid-vaults" },
  ]}
/>


Tokenized funds

Stakers deposit funds into Ether.fi and receive a return on investment in the form of staking rewards (supply-side fees).

Ether.fi is a non-custodial staking protocol built on Ethereum and other blockchains. Ether.fi was founded by Mike Silagadze and launched in 2023.

Ether.fi team & investors own and govern the protocol. They currently take a cut of the total staking rewards earned by the protocol (revenue). Ether.fi’s investors include North Island Ventures, Chapter One, Node Capital, and Arthur Hayes.

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Liquid staking

Ether.fi

ether.fi Liquid ETH (liquidETH) is a tokenized fund share issued by Ether.fi.

The fund is open-ended, invests in crypto assets, and locks up subscriptions for 0 months.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can subscribe and redeem in wETH, and holders have a right to redeem at net asset value with two-to-five-business-day settlement.

liquidETH has been issued on Ethereum as an ERC-20 token since June 2024, with a bridged version on one more network.

ether.fi Liquid ETHliquidETH

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