ETHZilla Drops Ethereum Treasury Label in Rebrand After Share Price Collapse
ETHZilla will rebrand as Forum Markets and adopt the Nasdaq ticker “FRMM” on March 2, shifting focus from holding Ethereum to developing tokenized products backed by real-world assets. Previously positioned as a public proxy for Ethereum, ETHZilla saw its shares surge to $107 in August 2025 after planning a $425 million ETH treasury, but stock value plunged 96% as crypto prices fell and investors exited. The company reduced its crypto exposure, selling assets and attracting scrutiny over its single-asset strategy. Founders Fund, an early backer, recently exited its position. Forum Markets now aims for diversified, revenue-generating businesses, such as tokenized aviation assets, to stabilize performance. Industry experts note that reliance on crypto treasuries is risky, especially during market downturns, and that broader asset exposure and regulated infrastructure are needed for sustained relevance.
