ETHZilla Raises $565 million as Nasdaq’s Ethereum Play Gains Ground

- ETHZilla rebrands from 180 Life Sciences Corp. with a sharp focus on Ethereum exposure. - The firm secures $565 million and amasses 94,675 ETH for on-chain yield strategies. On August 18, 2025, The Block reported that the Peter Thiel-backed company ETHZilla rebranded from 180 Life Sciences Corp. to focus on Ethereum investment opportunities. Following the rebrand, the firm debuted on Nasdaq under the ticker symbols ETHZ and ETHZW, signaling its strategic entry into digital asset markets. ETHZilla’s business model centers on on-chain yield strategies designed to outperform conventional Ethereum staking methods. To fund these efforts, the company raised $565 million and acquired 94,675 ETH, equating to approximately $419 million at current valuations. The funding round drew over 60 institutional and crypto-native participants, including Borderless Capital, GSR, Polychain Capital, and Peter Thiel's Founders Fund, which controls a 7.5% equity stake. In addition, ETHZilla appointed Electric Capital as the external asset manager to oversee these yield-focused investments. This high-profile backing and pioneering approach exemplify the growing institutional interest in Ethereum, and the move also signals a broader trend of digital asset treasury firms integrating into traditional financial markets. As of 18:15 UTC on August 18, market data shows Ethereum (ETH) was trading at $4,336.85, with its 24-hour trading volume having declined by 4.31%.