ETHZilla stock climbs on Forum rebrand as firm pushes further into tokenized assets
Shares of ETHZilla climbed more than 13% on Tuesday to around $3.91, their highest level in nearly a month, as the company formally changes its name to Forum in a shift away from its original ether acquisition strategy.
ETHZilla, which emerged last year from the rebranding of biotech firm 180 Life Sciences, initially positioned itself as a publicly traded Ethereum accumulation vehicle. The firm raised $565 million in 2025 to build an ETH-focused digital asset treasury, with early backing from Peter Thiel and other prominent crypto investors.
While the move comes alongside a broader crypto rebound, with Ethereum rising roughly 12% on the day to reclaim the $2,000 level, ETH has lost over 50% in value since the firm started buying last August. This has pushed ETHZilla to tweak its strategy in that time.
Changing strategies
In October, the company sold about $40 million worth of ETH as part of a $250 million stock repurchase plan. In December, it sold an additional 24,291 ETH, valued at roughly $74.5 million at the time, to redeem senior secured convertible notes, signaling a shift away from aggressive accumulation.
Earlier this month, ETHZilla expanded its real-world asset ambitions, acquiring a $4.7 million portfolio of 95 manufactured and modular home loans.
The firm plans to tokenize the loans on an Ethereum Layer 2 network, targeting an annualized yield of over 10%. It has also purchased two CFM56-7B24 aircraft engines for tokenization through Liquidity.io, an SEC-regulated alternative trading system.
Management has said future value will be driven by revenue and cash flow from its RWA tokenization platform, rather than crypto-centric metrics such as multiple of net asset value, or mNAV.
The stock remains sharply below last August’s peak above $100, when news of Thiel’s backing sent shares soaring. Thiel and affiliated Founders Fund entities have since exited their position, according to a recent SEC filing.
ETHZilla still holds 69,802 ETH according to The Block data, worth roughly $145 million, making it the sixth-largest corporate holder of Ethereum.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Crypto’s Forgotten Middle Ground Is Stirring: 4 Altcoins With Room to Surprise 100x This Month
AI Fund Liquidation Impacts Proprietary Trading Giant, Jane Street Suffers Rare $15 Billion Monthly Loss and Rushes $11 Billion Debt Restructuring
According to reports, Jane Street has recorded its first monthly loss in a decade, suffering a significant loss in July. However, its net trading income for the year still exceeds $40 billion and is likely to set a new annual record. The losses are not entirely due to its investment in Situational Awareness; its long positions in non-AI Asian stocks have also suffered. This week, Jane Street is advancing about $14.6 billion in bond financing, led by JPMorgan Chase and involving major institutional investors such as Pimco and Fidelity. To restructure its debt, Jane Street is shifting more debt to private markets and is even willing to bear significantly higher financing costs in exchange for reduced public disclosure.
Chicago Fed President Goolsbee: Recent Cooling in Inflation is Encouraging, But More Data Needed to Confirm Return to 2% Target
Chicago Federal Reserve President Goolsbee stated that he is encouraged by the recent cooling of U.S. inflation, but he would like to see similar improvements in the coming months before being convinced that prices are continuously returning to the Federal Reserve's 2% target.
Overnight US Stocks | The Three Major Indexes Show Mixed Performance, SanDisk (SNDK.US) Rises 7.39%
At the close, the Dow Jones fell 107.57 points, or 0.2%, to 53,732.41 points; the S&P 500 Index fell 13.23 points, or 0.17%, to 7,785.76 points; and the Nasdaq dropped 73.86 points, or 0.28%, to 26,729.16 points.
Crypto prices
More
