Token Files · Wrapped Ether

Where does one WETH come from, who can redeem it, and what would you need to prove that a particular wallet holds it?

FILE 001 · ETHEREUM MAINNET · REVIEWED 1 NOVEMBER 2026

Identify the contract

Two wallets can display the same ticker for different assets. This file covers WETH9 on Ethereum mainnet, chain ID 1. Compare the entire contract address before using a balance, receipt or holder list as evidence.

0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2 ↗

Follow a deposit

Imagine a trader wrapping 2 ETH. The contract credits the sender with 2 WETH and emits a Deposit event. If the trader sends 0.5 WETH to a supplier, the supplier now controls the right to withdraw that amount of ETH. The original depositor has 1.5 WETH left. Transaction fees are separate.

Supply, distribution and control

Deposits and withdrawals drive issuance and redemption. The reference contract contains no founder allocation, scheduled token unlock, privileged mint function or administrator upgrade switch. Its totalSupply function reads the contract’s ETH balance. That figure alone cannot tell you how balances are distributed among holders.

A holder ranking needs a network and a block number. A large address may represent a pool or an exchange holding assets for many users. This file makes no claim about the largest beneficial owner. A token using the same name on another chain requires its own investigation.

Reproduce the check

Compare deposit, withdraw and totalSupply in the canonical implementation. Cross-check network and address against the WETH address directory. Then work through the receipt exercise and the spending-permission exercise.