Is stETH a derivative?

I've been hearing a lot about stETH recently, and some people seem to categorize it as a derivative. Could you please clarify this for me? What exactly is stETH, and how does it differ from other types of cryptocurrencies or financial assets? If it is indeed considered a derivative, what are the specific characteristics or attributes that lead to this classification? I'm particularly interested in understanding its risk profile and how it fits into the broader cryptocurrency and finance landscape. Your insights would be greatly appreciated.