Coinbase ETH Staking (cbETH) lets users earn Ethereum staking rewards through Coinbase, which runs the validators and issues a liquid token representing the staked position. It is a custodial, exchange-operated route to ETH yield, simpler than running a validator but reliant on Coinbase. cbETH scores 85/100 (Tier 3) on the RWTS Trust Score, high for a staking product, reflecting Coinbase's status as a regulated, US-listed operator with strong controls. The trade-offs are custodial and counterparty risk, an unstaking queue measured in days, and the usual validator-slashing exposure beneath the wrapper.
- Issuer / protocol
- Coinbase
- Jurisdiction
- United StatesState MTLs / NYDFS BitLicense
- Backing
- Staked ETH (delegated PoS validation)
- Redemption / lock-up
- Flexible (unstaking queue of days)
- Audit & proof of reserves
- Independently audited
- Availability
- Available in US + 100 countries
- Chain
- Ethereum
- Tier
- Tier 3 — Secured DeFi
Scored on the published RWTS methodology (v1.1), reviewed quarterly and on material events. Ratings are independent and never pay-influenced.
Calculations are indicative. Actual yields may vary.
Price data from CoinGecko. Not financial advice.
Current yield of 2.86% sits at 5% of the observed range. There may be room for rates to improve.
Projections assume constant APY of 2.86%. Actual returns may vary. Not financial advice.
Beyond cbETH's own score, two structural questions matter: what is it built on, and what has broken before in this part of the market. A high score in isolation can still carry hidden, shared exposure.
What this and similar assets are built on, and where contagion could spread.
The depegs, defaults, and exploits that inform the Track Record dimension.
Liquidity read: TVL of $6.36B indicates deep on-chain liquidity. Lock-up: Flexible (unstaking queue of days).