ETHZilla Corporation has officially completed its dramatic pivot from biotech to blockchain, rebranding from 180 Life Sciences and debuting on the NASDAQ under the ticker ETHZ. The move establishes ETHZilla as one of the largest publicly traded corporate holders of Ethereum, with 94,675 ETH worth about $419 million in its treasury.
“Today, we are embracing our identity as ETHZilla and our commitment to developing a market-leading strategy that seeks to bring the value of Ethereum to investors in the public markets,” said McAndrew Rudisill, Executive Chairman of the company’s board.
From Biotech to Ethereum Treasury Giant
ETHZilla acquired its Ethereum holdings at an average price of $3,902 per ETH and now joins the ranks of companies betting big on Ethereum as both a store of value and a yield-generating asset.
The firm’s treasury strategy involves partnering with Electric Capital to unlock yield through staking, DeFi lending, and liquidity provisioning aiming to capture the full spectrum of Ethereum’s growing financial utility.
This marks a striking departure from the company’s former focus on biotech. ETHZilla raised $565 million in private funding to back the transition, attracting support from more than 60 institutional and crypto-native investors.
Backing From Crypto Heavyweights
ETHZilla’s pivot carries weight thanks to a powerful roster of backers:
- Polychain Capital and Founders Fund anchor the institutional investor base.
- DeFi leaders such as EigenLayer’s Sreeram Kannan, Lido’s Konstantin Lomashuk, and Compound’s Robert Leshner bring direct crypto-native credibility.
Their involvement signals not only confidence in ETHZilla’s new direction, but also in Ethereum’s future as the backbone of decentralized finance.
A Diversified Approach
While Ethereum is now its core focus, ETHZilla isn’t abandoning its past entirely. The company still holds legacy biotech assets that it plans to monetize and continues to operate its gaming division. This diversified portfolio could offer some resilience if crypto markets turn volatile, even though ETH performance will largely define ETHZilla’s trajectory.
Outlook
ETHZilla’s launch underscores the rising institutional embrace of Ethereum as more than just a cryptocurrency but as a financial asset capable of generating returns through staking and DeFi. With strong backing from both Wall Street and Ethereum’s founding builders, ETHZilla is positioning itself as a long-term player in bridging traditional markets and the decentralized economy.
