ETHZilla Pivots to Tokenization and rebrands as Forum Markets, shifting from ETH treasury strategy to real-world asset markets.
Author: Akshat Thakur
Steady attention without excessive speculation.
February 26, 2026 — ETHZilla Pivots to Tokenization as the company officially drops its Ethereum treasury model and rebrands as Forum Markets, repositioning itself as a real-world asset tokenization platform. The move follows a period of financial strain and investor exits.
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BSCN
@BSCNews
🚨LATEST: ETHZILLA DROPS ETHEREUM TREASURY STRATEGY Former Ethereum treasury-themed firm ETHZilla is rebranding as Forum Markets. It will begin trading on Nasdaq under ticker FRMM from March 2. The shift marks a move away from $ETH-on-balance-sheet toward tokenized RWAs. https://t.co/EWR4fzxF27
07:15 AM·Feb 26, 2026
CoinGecko
@coingecko
NEWS: ETHZilla drops its $ETH treasury label and pivots to tokenization, rebranding as Forum Markets. https://t.co/imHmwSar2W
06:07 AM·Feb 26, 2026
ETHZilla began as a corporate Ethereum treasury firm, raising significant capital to acquire ETH and offer stock market exposure to the asset. The strategy initially benefited from Ethereum’s rally during 2025.
However, as ETH prices declined sharply, the value of the treasury dropped, forcing the company to sell assets to meet debt obligations. The stock price also fell significantly from its peak levels. These challenges pushed the company to explore alternative revenue models.
ETHZilla Pivots to Tokenization through a full rebrand into Forum Markets, signaling a complete transition away from holding ETH as its core strategy. The new identity reflects a focus on tokenizing real-world assets for global investors.
The platform will focus on creating blockchain-based representations of assets such as home loans, aviation equipment, and other yield-generating assets. These tokens aim to provide fractional access and improved liquidity. The rebrand marks a structural shift in the company’s business model.
Key milestones in ETHZilla’s transformation from an ETH treasury firm to Forum Markets and its shift toward RWA tokenization
ETHZilla rebrands from 180 Life Sciences and raises $425 million to build one of the largest corporate ETH treasuries, with its stock peaking at $174.
Peter Thiel’s Founders Fund acquires a 7.5% stake, boosting credibility and institutional confidence in ETHZilla’s crypto treasury strategy.
The company sells 24,291 ETH for $74.5 million to repay debt and begins shifting its focus from treasury holding to real-world asset tokenization.
Founders Fund fully exits its 7.5% stake, signaling reduced institutional backing during the company’s strategic transition.
ETHZilla announces plans to tokenize a portfolio of home loans, marking its entry into blockchain-based real estate finance.
The firm acquires and tokenizes $12.2 million worth of commercial jet engines, expanding its real-world asset tokenization portfolio.
A regulatory filing reveals Founders Fund’s full divestment, contributing to a 5% decline in ETHZilla’s stock price.
The company rebrands to Forum Markets and formally drops its ETH treasury identity, completing its transition to a tokenized asset platform.
ETHZilla Pivots to Tokenization after earlier efforts to diversify into real-world assets. In recent months, the company tokenized home loan portfolios and commercial jet engine assets.
These initiatives formed the foundation for the new strategy, allowing the firm to transition toward income-generating assets rather than volatile crypto holdings. The tokenization model is designed to create more stable revenue streams for the company.
The company is expected to expand its tokenized asset offerings and pursue partnerships with financial institutions. Regulatory compliance and transparency will be central to the rollout.
Future developments may include additional asset classes, new listings, and integration with DeFi markets for liquidity and collateral use. The long-term success of ETHZilla Pivots to Tokenization will depend on adoption, asset performance, and operational execution.
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