weETH surpasses $4B in deposits on Aave V3, becoming the protocol’s second-largest asset

Ether.fi’s wrapped liquid restaking token, weETH, has crossed $4 billion in deposits on Aave V3’s Ethereum market. That makes it the second-largest asset by deposit volume on the biggest lending protocol in DeFi, sitting ahead of stablecoins and wrapped Bitcoin. The numbers behind the milestone Over the past 30 days alone, weETH deposits grew by roughly 129,800 weETH, translating to more than $350 million in new supplied value. That’s a 10.9% increase in balance in a single month. By early 2026, weETH’s total deposits on Aave were estimated at around $4.47 billion, placing it firmly in the number-two slot across the entire protocol. The only asset with a larger deposit base is native ETH itself. ETH-linked assets now make up approximately 36% of Aave V3’s total value locked. weETH is a major driver of that concentration, functioning as a core collateral option for borrowers who want exposure to restaking yields while simultaneously leveraging their position in Aave’s lending markets. Users deposit ETH into Ether.fi to earn restaking rewards, receive weETH as a receipt, then deposit that weETH into Aave to borrow against it. Why liquid restaking tokens dominate Aave collateral The r...