Swell staking tax for your Belgian return

Cryptotax automatically detects your Swell swETH deposits, staking rewards and rswETH restaking. Get a clear overview of taxable liquid staking income.

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Capital gains tax 2026: The capital gains tax law was approved by the Chamber on 3 April 2026. Since 1 January 2026 you pay 10% on crypto capital gains above €10,000/year. Cryptotax calculates this automatically. More info →

What is Swell?

Swell is a liquid staking protocol that issues swETH in exchange for staked ETH. swETH accumulates staking rewards and remains liquid for use in DeFi. With rswETH you can also restake via EigenLayer.

swETH

swETH is Swell's liquid staking token. Unlike rebasing tokens such as stETH, swETH appreciates in value relative to ETH as rewards accumulate, similar to wstETH.

rswETH (Restaking)

rswETH is the restaked version of swETH that is automatically restaked via EigenLayer. This provides extra yield from AVS rewards on top of regular staking rewards.

SWELL Token

The SWELL governance token rewards early adopters and active stakers. Token holders can participate in protocol governance through the Swell DAO.

What does Cryptotax support for Swell?

swETH Tracking

  • Deposit event detection
  • swETH balance monitoring
  • Yield calculation over time
  • Withdrawal tracking

rswETH Restaking

  • Restaking deposit detection
  • EigenLayer integration
  • AVS rewards tracking
  • Combined yield calculation

SWELL Token

  • Airdrop claim detection
  • Staking rewards tracking
  • Token transfers
  • EUR valuation

How does Cryptotax treat your Swell activity for tax?

Key tax considerations

  • ①
    Staking ETH for swETH may be taxable.

    Converting ETH to swETH can be seen as an exchange. The capital gain on your ETH is then realized. This is a grey area, so consult a tax adviser.

  • ②
    swETH yield is taxable upon realization.

    The appreciation of swETH relative to ETH represents staking rewards. Upon sale or unwrap, this income is realized and taxed at 30%.

  • ③
    rswETH generates double yield.

    With rswETH you earn both ETH staking rewards and EigenLayer AVS rewards. Both are taxable, and Cryptotax splits them automatically.

  • ④
    SWELL token rewards are taxable.

    SWELL tokens received as an airdrop or staking reward are taxable at the moment of claim, at the EUR value at that time.

This overview is informational. For personal tax planning we recommend professional advice.

Belgian crypto tax 2026

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Import your Swell activity today

Connect your Ethereum wallet, let our engine pull in all swETH and rswETH transactions, and receive a report that is ready for your Belgian return.

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