diff --git a/litellm/proxy/spend_tracking/usage_ingestion_endpoints.py b/litellm/proxy/spend_tracking/usage_ingestion_endpoints.py
index 63e0f20a395..9c3e5029173 100644
--- a/litellm/proxy/spend_tracking/usage_ingestion_endpoints.py
+++ b/litellm/proxy/spend_tracking/usage_ingestion_endpoints.py
@@ -30,7 +30,14 @@ MAX_RECORDS_PER_REQUEST: Final = 1000
 
 
 class ExternalUsageRecord(BaseModel):
-    api_key: str = Field(min_length=1, description="Raw virtual key (sk-...) to attribute usage to. Never logged.")
+    api_key: str | None = Field(
+        default=None, min_length=1, description="Raw virtual key (sk-...) to attribute usage to. Never logged."
+    )
+    api_key_hash: str | None = Field(
+        default=None,
+        min_length=1,
+        description="SHA-256 hash of the virtual key. Use instead of api_key to avoid submitting raw keys.",
+    )
     model: str = Field(min_length=1)
     prompt_tokens: int = Field(ge=0)
     completion_tokens: int = Field(ge=0)
@@ -51,6 +58,12 @@ class ExternalUsageRecord(BaseModel):
             raise ValueError("end_time must not be before start_time")
         return self
 
+    @model_validator(mode="after")
+    def exactly_one_key_identifier(self) -> "ExternalUsageRecord":
+        if (self.api_key is None) == (self.api_key_hash is None):
+            raise ValueError("exactly one of api_key or api_key_hash is required")
+        return self
+
 
 class UsageIngestRequest(BaseModel):
     records: tuple[ExternalUsageRecord, ...] = Field(min_length=1, max_length=MAX_RECORDS_PER_REQUEST)
@@ -153,7 +166,7 @@ async def process_external_usage_record(
     record: ExternalUsageRecord, deps: UsageIngestionDeps
 ) -> UsageIngestRecordResult:
     request_id: Final = record.idempotency_key or deps.generate_request_id()
-    hashed_token: Final = hash_token(record.api_key)
+    hashed_token: Final = record.api_key_hash if record.api_key_hash is not None else hash_token(record.api_key or "")
 
     key: Final = await deps.lookup_key(hashed_token)
     if key is None:
@@ -316,7 +329,8 @@ async def ingest_external_usage(
     dispatching directly to model gateways), so budgets and spend stay coherent in litellm as the
     single metering system.
 
-    Attribution (user/team/org) is derived from the given virtual key. Records accept an optional
+    Attribution (user/team/org) is derived from the given virtual key, submitted either raw
+    (api_key) or pre-hashed (api_key_hash) to keep raw keys out of request bodies. Records accept an optional
     idempotency_key, stored as the spend-log request_id: the reservation insert, counter updates and
     dedup are checked atomically at the database primary key, so overlapping retries are safe. The
     reservation row is always written (even when disable_spend_logs is set), because it is both the
diff --git a/tests/test_litellm/proxy/spend_tracking/test_usage_ingestion_endpoints.py b/tests/test_litellm/proxy/spend_tracking/test_usage_ingestion_endpoints.py
index b5ae287269a..8a477c0ea81 100644
--- a/tests/test_litellm/proxy/spend_tracking/test_usage_ingestion_endpoints.py
+++ b/tests/test_litellm/proxy/spend_tracking/test_usage_ingestion_endpoints.py
@@ -256,3 +256,20 @@ def test_failed_booking_is_retry_safe_error_not_permanent_duplicate():
     assert "safe to retry" in (result.error or "")
     assert result.spend is None
     assert deps.spend_calls == []
+
+
+def test_key_hash_resolves_without_raw_key_in_body():
+    deps = RecordingDeps()
+    record = make_record(cost=0.01, idempotency_key="k-11")
+    record = ExternalUsageRecord(**{**record.model_dump(), "api_key": None, "api_key_hash": hash_token(RAW_KEY)})
+    result = run(process_external_usage_record(record, deps.as_deps()))
+    assert result.status == "recorded"
+    assert deps.looked_up_hashed == hash_token(RAW_KEY)
+    assert deps.reserve_calls[0]["hashed_token"] == hash_token(RAW_KEY)
+
+
+def test_exactly_one_key_identifier_required():
+    with pytest.raises(ValidationError):
+        make_record(api_key=None)
+    with pytest.raises(ValidationError):
+        make_record(api_key_hash=hash_token(RAW_KEY))
diff --git a/ui/litellm-dashboard/src/lib/http/schema.d.ts b/ui/litellm-dashboard/src/lib/http/schema.d.ts
index 3647ef4c396..35bd7151383 100644
--- a/ui/litellm-dashboard/src/lib/http/schema.d.ts
+++ b/ui/litellm-dashboard/src/lib/http/schema.d.ts
@@ -12876,7 +12876,8 @@ export interface paths {
          *     dispatching directly to model gateways), so budgets and spend stay coherent in litellm as the
          *     single metering system.
          *
-         *     Attribution (user/team/org) is derived from the given virtual key. Records accept an optional
+         *     Attribution (user/team/org) is derived from the given virtual key, submitted either raw
+         *     (api_key) or pre-hashed (api_key_hash) to keep raw keys out of request bodies. Records accept an optional
          *     idempotency_key, stored as the spend-log request_id: the reservation insert, counter updates and
          *     dedup are checked atomically at the database primary key, so overlapping retries are safe. The
          *     reservation row is always written (even when disable_spend_logs is set), because it is both the
@@ -24439,7 +24440,12 @@ export interface components {
              * Api Key
              * @description Raw virtual key (sk-...) to attribute usage to. Never logged.
              */
-            api_key: string;
+            api_key?: string | null;
+            /**
+             * Api Key Hash
+             * @description SHA-256 hash of the virtual key. Use instead of api_key to avoid submitting raw keys.
+             */
+            api_key_hash?: string | null;
             /** Completion Tokens */
             completion_tokens: number;
             /**