The story
- Proto-Indo-European*ḱweyt-
- Proto-Germanic*hwītaz
- Proto-West Germanic*hwīt
- Old Englishhwīt
- Middle Englishwhit
- Englishwhite
- English todaywhitey
From white (“bright and colorless; a white-skinned person”) + -y (“forming diminutives”).
Etymology from Wiktionary, CC BY-SA 4.0.