ETHZilla Abandons Ethereum Treasury Strategy After Significant Stock Decline

ETHZilla's decision to rebrand as Forum Markets marks a significant shift in the company's strategy. The firm's previous approach of holding Ethereum on its balance sheet and presenting its stock as a proxy for crypto exposure was met with initial enthusiasm, but ultimately failed to deliver.

The company's stock price peaked at $107 in August 2025, following plans to establish a $425 million Ethereum treasury. However, investors soon lost interest, leading to a decline of over 96% from its high. Despite a recent rebound, shares remain significantly below their peak.

As part of its restructuring efforts, ETHZilla is shifting its focus towards tokenized real-world assets (RWAs). The company's management believes that this new direction will allow it to better diversify its revenue streams and stabilize its equity performance trajectory.