A baby eel is called an elver. However, baby eels are also known as leptocephalus, which is Greek for "thin head". When eels hatch from eggs, they are flat and transparent, and they are called leptocephalus. As they pass through metamorphosis and turn darker in color, they become adult enough to be called elvers. Baby eels are highly valued by Asian aquaculture companies and are often worth more than $2,000 per pound.