Ether.fi has expanded its product set with tokenized stocks, Aave loans and global fiat rails, broadening its reach beyond its earlier restaking focus. At the same time, the platform's restaking exposure fell to under 1%, while total value locked, or TVL, declined from $12.4 billion to $3.3 billion. The combination points to a strategic shift toward more diversified crypto and fiat-linked services even as the amount of capital on the platform has shrunk sharply.