ETHZilla shares pop as it rebrands to Forum in tokenization pivot

ETHZilla shares climbed 13% on Wednesday after the company changed its name to Forum as part of plans to ditch its crypto treasury strategy and become a tokenization company.

The company said on Wednesday that it has updated its corporate name and brand to Forum Markets and will do business as Forum. ETHZilla will also change its ticker symbol to “FRMM” as of market open on Monday, pending Nasdaq approval.

The company said the rebrand is the next step in its transition into a platform “connecting traditional capital markets with blockchain-based financial infrastructure.”

“Forum embodies our belief that the next generation of financial markets will be built around institutional-grade, on-chain products backed by real assets, governed by transparency, and delivered through regulated infrastructure,” said the company chair and CEO, McAndrew Rudisill.

ETHZilla shares climb 13% on rebrand

Shares in ETHZilla (ETHZ) ended trading on Wednesday up more than 13% to $3.91 and have traded flat after hours, recovering from a slight dip.

ETHZilla’s stock gained on Wednesday after the company shared its latest push to market its tokenization pivot. Source: Google Finance

Its stock is down over 20% so far this year as a wide crypto market rout has hit stocks tied to digital assets.

ETHZilla was a biotech company called 180 Life Sciences that adopted the ETHZilla brand and started buying and holding Ether ($ETH) in July 2025 amid peak hype around crypto treasury companies.

Its crypto treasury pivot sent its shares soaring to a multi-year high of $107 by August, as $ETH climbed to just under $4,950 around the same time, but a crypto market rout has since decimated its share price, along with those of its crypto-buying rivals.

As Wall Street largely moved on from crypto treasuries and began to back tokenization firms, Rudisill announced in December that ETHZilla would pivot to bringing “real-world assets (RWA) on-chain through tokenization.”

The company has purchased two commercial jet engines leased to what it said is a “leading US air carrier,” and began offering a token tied to the engines earlier this month called Eurus Aero Token I.

ETHZilla currently holds 69,802 $ETH worth $143.7 million at the cryptocurrency’s current price of $2,060, making it the seventh-largest corporate holder of the asset, per CoinGecko.