ETHZilla Rebrands as Forum Markets, Sees Stock Surge

Forum Markets, formerly known as ETHZilla, has seen its stock surge by 13% after announcing plans to abandon its crypto treasury and pivot to a tokenization platform. The company's name change is part of a broader transition to integrate traditional markets with blockchain-based financial infrastructure.

The rebranding will become official on Monday pending Nasdaq approval, at which point the company's ticker symbol will change to FRMM. This move is seen as a significant shift in strategy for Forum Markets, which currently holds 69.802 ETH worth approximately $143.7 million, making it the seventh largest institutional ETH holder.

The company plans to focus on providing institutional-grade on-chain products and real-world assets, with transparent governance. This move is expected to increase liquidity in the ETH futures market and attract more institutional investors. However, experts note that ETH's downtrend carries risk for Forum Markets' success.