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ETHZilla Completes Its Nasdaq Rebrand

Formerly 180 Life Sciences, ETHZilla has at last officially roared to life on the Nasdaq,
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Aug 18, 2025 • 1 min read

Nasdaq-listed ETHZilla officially wrapped its corporate rebrand on Monday, cementing its pivot from biotech to becoming one of the latest Ethereum treasury firms.

What’s the Scoop?

  • New Tickers: The company’s stock now trades under ETHZ, with public warrants under ETHZW.
  • Treasury Size: ETHZilla disclosed holdings of 94,675 ETH worth around $419 million, acquired at an average of $3,900 per token. The war chest came from a $425 million PIPE deal and a $156.25 million convertible note, raising $565 million total.
  • Treasury Model: ETHZilla joins the growing wave of digital asset treasury (DAT) firms, similar to bitcoin-only giant Strategy, but with the added yield potential of proof-of-stake assets like Ethereum.
  • Investor Backing: Over 60 investors participated, including Electric Capital, Polychain, Borderless Capital, GSR, and high-profile angels from Eigenlayer, Gauntlet, and Superstate. Peter Thiel’s Founders Fund recently grabbed a 7.5% stake.
  • Yield Strategy: Electric Capital is managing the treasury with an “onchain yield generation program” aiming to outperform vanilla ETH staking returns.

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