Rocket Pool rETH and Coinbase cbETH as proof of funds

You staked ETH through Rocket Pool or Coinbase and now hold rETH or cbETH. The token count is lower than the ETH you started with and it never changes, yet the position is worth more ETH every day. That confuses most proof-of-funds checks. RealOpen converts both tokens to ETH at each protocol’s own on-chain rate and counts them at the ETH rate.

Neither token needs unstaking to verify, to get a letter, or to close. You need the address that holds it, and about ten minutes.

What you need

The self-custodied Ethereum address that holds the rETH or cbETH, and a RealOpen account. No Rocket Pool or Coinbase login, no API key, nothing custodial. cbETH still sitting inside a Coinbase account has to be withdrawn to a wallet you control first; RealOpen verifies addresses, not exchange accounts.

Key Points

  • The self-custodied address that holds the rETH or cbETH
  • A wallet that can sign the verification message from that address (or send a small transfer)
  • No unstaking, no burning or unwrapping, no third-party access

Step by step

  1. Identify the Ethereum address that holds the rETH or cbETH. If your cbETH is still inside your Coinbase account, withdraw it to a self-custodied wallet first; RealOpen verifies wallet addresses, not exchange accounts.
  2. On RealOpen, add that address as a new wallet (Wallets, then Add wallet).
  3. Verify ownership: sign the RealOpen verification message from that address, or send the small verification transfer from it.
  4. RealOpen scans the wallet, recognizes rETH and cbETH by their canonical contracts, reads each protocol’s exchange rate on-chain, and lists them as liquid staking tokens under that wallet in ETH terms.
  5. Generate your Proof of Funds letter. The position is counted as ETH at the ETH rate, inside your transferable value.

New to RealOpen wallet verification? The ownership guide covers the signature and transfer options in detail.

Why the numbers look wrong

rETH and cbETH are value-accruing tokens. Instead of your balance growing as rewards come in, the way Lido’s stETH rebases, the token count stays fixed and each token becomes redeemable for more ETH. Stake 10 ETH and you receive fewer than 10 rETH; a year later the count is unchanged and each token is worth more ETH than when you got it.

A naive check sees a small balance of an unfamiliar token and either ignores it or values it at face count. Both are wrong. The position is ETH, and the protocol publishes exactly how much.

How RealOpen attributes the position

RealOpen recognizes rETH and cbETH by their canonical contracts on Ethereum, never by symbol. For the verified address it reads the token balance and, in the same batch, the protocol’s exchange rate: Rocket Pool’s getExchangeRate for rETH, Coinbase’s exchangeRate for cbETH. Balance times rate is the ETH-equivalent, and that is what gets counted at the ETH RealScore rate.

Every position is stored with its provenance: the contract, the method that produced the rate, the block it was read at, and the time. Frax sfrxETH and frxETH and StakeWise osETH are handled the same way through their own rate reads. Bridged rETH on Arbitrum and cbETH on Base are recognized by contract there too, with a price-based ETH estimate.

How it appears in your dashboard and on the letter

Under the verified wallet, each position shows its amount, protocol, and liquidity, for example:

  • 4.4 rETH · Rocket Pool · Transferable token
  • 6 cbETH · Coinbase · Transferable token
  • 2 sfrxETH · Frax · Transferable token

Each line carries the token amount and what the rate makes it worth in ETH and dollars. These lines sit inside your transferable value: the letter counts them as ETH and nothing has to happen before they can be sent. Contrast a pooled or validator stake, which reads 10 ETH · Staked · Everstake · Unstaking required and always needs an exit first. See how staked value and available value are treated across every supported chain.

Before closing: two exits and one shortcut

RealOpen converts your crypto at close and wires dollars to escrow. Because rETH and cbETH are transferable, the simplest route is to send the token for conversion as it is. If you would rather hold ETH first, the exits differ:

  • rETH burn. Rocket Pool lets you burn rETH for ETH out of its deposit pool. That works only while the pool holds enough ETH; when it is thin, you wait or trade instead.
  • cbETH unwrap. Coinbase unwraps cbETH to ETH by exiting validators, which follows the Ethereum network exit queue: days, longer when the queue is busy.
  • Trade. Both tokens have liquid markets; swapping to ETH is immediate, at the market rate rather than the protocol rate.

Whichever you choose, do it early in escrow. Neither the deposit pool nor the exit queue cares about your closing date. Follow the funding instructions RealOpen issues in escrow for which asset to send and where.

The short version

  • rETH and cbETH are recognized by contract and converted to ETH at the protocol’s own rate, read on-chain; sfrxETH, frxETH and osETH work the same way.
  • They are transferable tokens, counted at the ETH rate. Verify, get the letter, and close without unstaking.
  • If you want ETH first: rETH burns depend on deposit-pool liquidity, cbETH unwraps follow the exit queue. Start early or just send the token.
Verify your wallet and get your Proof of Funds letter

Frequently asked questions