What is Wrapped Beacon ETH (wBETH)?
Wrapped Beacon ETH (wBETH) is a liquid staking token issued by Binance that represents ETH staked through the Binance ETH Staking service. It allows users to participate in Ethereum proof-of-stake staking while maintaining liquidity and DeFi utility.
How wBETH Works
When users stake ETH through Binance ETH Staking, they receive wBETH directly. The token uses a value-accruing model where 1 wBETH represents 1 staked ETH plus accumulated staking rewards. The exchange rate of wBETH to ETH gradually increases over time as rewards compound.
Users can stake ETH to receive wBETH or redeem wBETH back to ETH at zero fees through the Binance ETH Staking interface. The token is available on both Ethereum mainnet and BNB Chain, allowing cross-chain flexibility.
Key Features
Value-Accruing Model: Unlike rebasing tokens, wBETH price increases relative to ETH as rewards accumulate, making it compatible with standard DeFi protocols. Cross-Chain Availability: wBETH is natively available on both Ethereum and BNB Chain, enabling participation in DeFi ecosystems on either network. Institutional Backing: Operated by Binance, one of the largest cryptocurrency exchanges, providing operational reliability and liquidity. Zero Fee Staking/Unstaking: Binance does not charge fees for staking ETH to wBETH or redeeming wBETH to ETH.Risks
Counterparty Risk: wBETH relies on Binance as the centralized operator for staking services and custody. Regulatory Risk: As a centralized exchange product, wBETH may be subject to regulatory actions affecting Binance. Slashing Risk: If Binance-operated validators are penalized, it could affect wBETH value. Smart Contract Risk: The wBETH token contract could contain vulnerabilities.Data Disclaimer
TVL and APY figures are sourced from on-chain data and may fluctuate. Data as of February 2026.