ether.fi vs Tria

ether.fi - Self-custodial Visa credit. Borrow against staked ETH (eETH, weETH) - no crypto sold at point of sale. Your collateral continues earning staking yield. Four tiers: Core (free, 3%), Luxe (10K pts, 3%), Pinnacle (50K pts, 3%), VIP (invite, 3%+). 1% FX, 2% ATM, $0 annual. Conference lounges at Luxe+. GLOBAL. Assets: USDC, ETH, eETH, weETH.

Tria - Self-custodial Visa debit. Spend from wallet balance (taxable disposal). Three tiers: Virtual (free, 1.5%), Signature ($109/year, 3%, Visa Signature insurance, 15% APY), Premium ($250/year, 6%, 0% ATM, metal, purchase protection). 0% FX all tiers. XP farming for airdrop. GLOBAL. Assets: ETH, USDC, USDT.

SpendNode's fee breakdown shows Tria Premium (6%) earns 77% more cashback than ether.fi (3%) on the same spending. The $830/year gap ($1,910 vs $1,080) is the largest cashback advantage in any self-custodial card comparison at these price points.

On cross-currency spending, the gap widens further. ether.fi's 1% FX reduces its effective rate to 2% net. Tria's 0% FX preserves the full rate. A European traveler spending $3,000/month across currencies: Tria Premium earns $1,910/year. ether.fi earns $720/year. The annual gap is $1,190.

Both cards generate passive income, but through different mechanisms.

ether.fi: ETH staking yield (approximately 3-4% base) plus EigenLayer restaking yield (approximately 1-2% additional). Your collateral earns while backing your credit line. On $50,000 eETH: approximately $2,000-3,000/year. ETH-denominated - value fluctuates with ETH price.

Tria: Up to 15% APY on wallet balances via account abstraction yield strategies. On $50,000: up to $7,500/year. Stablecoin-denominated (USDC) - dollar-stable value. "Up to" implies variable rates.

Tria's yield potential exceeds ether.fi's by 2-3x at equal balances. But ether.fi's yield comes with ETH price exposure (upside if ETH appreciates, downside if it drops). Tria's yield is in stablecoins (predictable dollar value). The risk profiles are different even if the dollar amounts differ.

ether.fi Luxe+: Conference lounge access, 65% hotel discounts, priority support, purchase protection (Pinnacle), extended warranty, baggage coverage. Requires 10K+ monthly points or 15K ETHFI staked.

Tria Signature: Visa Signature travel insurance (trip cancellation, emergency medical, rental car CDW). Included in the $109/year fee with no spending or staking threshold. Available to all Signature holders from day one.

Tria Premium: Purchase protection, metal card, 0% global ATM. $250/year flat fee.

Tria's travel perks are accessible at lower price points. ether.fi's perks are richer but require higher engagement thresholds.

Picking Tria for higher cashback without calculating capital gains tax on appreciated ETH holdings. Tria Premium (6%) earns $1,910/year net on $3,000/month. But if spending $36,000/year from ETH with 50% unrealized gains at 20% CGT, the tax cost is approximately $3,600/year. Net value: -$1,690/year (spending creates more tax than the cashback earns). ether.fi eliminates the CGT entirely while earning $1,080/year domestically (or $720 cross-currency). Net value: +$1,080/year. The $2,770/year swing favors ether.fi for appreciated ETH spenders. How to avoid it: If your spending comes from appreciated ETH, always calculate CGT first. ether.fi's lower cashback rate is offset many times over by zero tax. If you spend USDC (no gains), Tria's higher cashback wins cleanly.

Using ether.fi for cross-currency spending when Tria charges 0% FX. ether.fi's 1% FX costs $360/year on $3,000/month cross-currency spending. Tria charges $0. For USDC spenders in Europe traveling across currencies, Tria Signature (3%, 0% FX, $109/year) earns $971/year versus ether.fi's $720/year. The $251/year gap may be small individually but compounds over years. How to avoid it: If your spending is heavily cross-currency and funded by stablecoins, Tria's 0% FX makes it the better choice. If you spend domestically from appreciated ETH, ether.fi's tax advantage overrides the FX difference.

For ETH holders with unrealized gains: ether.fi. Zero capital gains tax on spending, yield on collateral, and the convenience of spending without selling. Tax savings exceed Tria's cashback advantage.

For stablecoin spenders wanting maximum cashback: Tria Premium at 6% with 0% FX and $250/year. Nearly double ether.fi's 3% with zero FX fees.

For free self-custodial entry: Tria Virtual (1.5%, free, 0% FX) outearns ether.fi Core (3%, free, 1% FX) on cross-currency spending. ether.fi wins on domestic spending.

For travel insurance included: Tria Signature at $109/year includes Visa Signature travel protection. ether.fi requires Luxe tier (10K points or 15K ETHFI) for comparable perks.

Outlook: These cards represent the two approaches to self-custodial spending: ether.fi optimizes for tax efficiency (credit model), Tria optimizes for maximum returns (high cashback + high yield). If ether.fi increases cashback above 3% or reduces FX fees, it would challenge Tria's rate advantage. If Tria adds a credit line option (borrow against holdings), it would neutralize ether.fi's tax advantage. Both are expanding in 2026.