--- title: "Ethena: Will expand neutral arbitrage trading to stock and commodity markets" type: "News" locale: "en" url: "https://longbridge.com/en/news/281812255.md" description: "Ethena has announced the expansion of USDe's collateral types, following approval from its risk committee. Historically, USDe's collateral was mainly short perpetual contracts against crypto assets, but now only 11% of it is from these contracts. The project aims to diversify collateral to reduce concentration risk and enhance resilience. The diversification includes overcollateralized stablecoin lending, expanding into more Real-World Assets, equity and commodity basis trading, and prime lending for trading firms." datetime: "2026-04-07T01:01:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281812255.md) - [en](https://longbridge.com/en/news/281812255.md) - [zh-HK](https://longbridge.com/zh-HK/news/281812255.md) --- # Ethena: Will expand neutral arbitrage trading to stock and commodity markets Ethena has officially announced that USDe will expand its collateral types following approval from its independent risk committee. Ethena stated that historically, USDe's collateral primarily consisted of short perpetual contracts against spot crypto assets, but currently, perpetual contract positions only account for 11% of USDe's collateral, with the remainder allocated to various stablecoin reserves and DeFi lending positions. Any portfolio concentrated on a single strategy inherently carries risk. While USDe's past collateral framework has never resulted in damage to collateral, depletion of reserve funds, or critical issues, the project is actively pursuing collateral diversification to reduce concentration risk and build a more resilient reserve portfolio. This diversification of collateral assets encompasses four directions, each a natural extension of Ethena's existing business: 1. Overcollateralized institutional stablecoin lending: custodianing the collateral provided by borrowers through a third-party institutional custodian; 2. More Real-World Assets (RWA) beyond US Treasury Bonds (T-Bills): expanding to more high-quality, highly liquid credit assets; 3. Equity and Commodity Basis Trading: extending Ethena's delta-neutral hedging approach, already applied to crypto assets, to traditional assets; 4. Prime Lending for Trading Firms: providing funding to trading firms through overcollateralized loans, with the counterparty assuming the exchange risk. ### Related Stocks - [AHNR.US](https://longbridge.com/en/quote/AHNR.US.md) - [ABIT.US](https://longbridge.com/en/quote/ABIT.US.md) - [BITB.US](https://longbridge.com/en/quote/BITB.US.md) - [HODL.US](https://longbridge.com/en/quote/HODL.US.md) - [GLXY.US](https://longbridge.com/en/quote/GLXY.US.md) - [DTCR.US](https://longbridge.com/en/quote/DTCR.US.md) - [EZBC.US](https://longbridge.com/en/quote/EZBC.US.md) - [VFH.US](https://longbridge.com/en/quote/VFH.US.md) - [FNCL.US](https://longbridge.com/en/quote/FNCL.US.md) - [IDGT.US](https://longbridge.com/en/quote/IDGT.US.md) - [BRRR.US](https://longbridge.com/en/quote/BRRR.US.md) - [BTCW.US](https://longbridge.com/en/quote/BTCW.US.md) - [FBTC.US](https://longbridge.com/en/quote/FBTC.US.md) - [MARA.US](https://longbridge.com/en/quote/MARA.US.md) - [COIN.US](https://longbridge.com/en/quote/COIN.US.md) - [HUT.US](https://longbridge.com/en/quote/HUT.US.md) - [ETHE.US](https://longbridge.com/en/quote/ETHE.US.md) - [SRVR.US](https://longbridge.com/en/quote/SRVR.US.md) - [BTCO.US](https://longbridge.com/en/quote/BTCO.US.md) - [IBIT.US](https://longbridge.com/en/quote/IBIT.US.md) - [RIOT.US](https://longbridge.com/en/quote/RIOT.US.md) - [BITO.US](https://longbridge.com/en/quote/BITO.US.md) - [ABTC.US](https://longbridge.com/en/quote/ABTC.US.md) - [BLOK.US](https://longbridge.com/en/quote/BLOK.US.md) - [ARKB.US](https://longbridge.com/en/quote/ARKB.US.md) - [BKKT.US](https://longbridge.com/en/quote/BKKT.US.md) - [GBTC.US](https://longbridge.com/en/quote/GBTC.US.md) - [HOOD.US](https://longbridge.com/en/quote/HOOD.US.md) - [CLSK.US](https://longbridge.com/en/quote/CLSK.US.md) - [IAI.US](https://longbridge.com/en/quote/IAI.US.md) - [BTC.US](https://longbridge.com/en/quote/BTC.US.md) ## Related News & Research - [Hut 8 Stock Trades 65% Above Its 200-Day Average Ahead of Earnings](https://longbridge.com/en/news/293939685.md) - [Robinhood Is Now Making More Money From Prediction Markets Than Crypto Trading. Here's What That Means For Crypto Investors](https://longbridge.com/en/news/294409961.md) - [Key facts: BTCUSD $62.9k (-2.8%); small transfers; Trump Media 2,628 BTC](https://longbridge.com/en/news/294606398.md) - [Pump.fun token graduation rate jumps after BOOST changes launch incentives](https://longbridge.com/en/news/294246369.md) - [Bybit Launches New DCA Challenge with Up to 55,000 USDT in Rewards for BTC, ETH and XAUT Auto-Investing](https://longbridge.com/en/news/294195061.md)