ETHZilla Corporation sold 24,291 ETH for $74.5 million in December 2025 to address debt, signaling a strategic shift in its Ethereum treasury management.
The sale reduced ETHZilla's holdings significantly, impacting their market position and underscoring a pivot towards real-world asset tokenization revenue streams.
On December 22, 2025, ETHZilla Corporation announced the sale of 24,291 ETH for $74.5 million, aiming to redeem senior secured convertible notes and reduce debt. The sales signal a pivot from its prior Ethereum treasury strategy toward focusing on RWA tokenization revenue.
The key players in this strategy include Peter Thiel, Executive Chairman McAndrew Rudisill, and institutional investors. The company now shifts its focus towards generating revenue from RWA tokenization, diverging from the previous Ethereum accumulation approach.
ETHZilla Sells 24,291 ETH to Reduce Debt
This financial move reduces ETHZilla's holdings from 94,091 ETH to 69,800 ETH, reflecting a strategic focus change, publicly announced by the corporation. The action arises following an October sale that occurred for stock repurchases.
Market analysts are closely monitoring ETHZilla's new focus on RWA tokenization. According to SEC filings, the company emphasizes the move will drive growth from revenue and cash flow, replacing earlier growth strategies dependent on ETH holdings.
Corporate Treasury Trends: Pivots to Tokenization
Similar to ETHZilla's October ETH sales for share repurchases, companies like BitMine have also pivoted to adjust treasury strategies. BitMine Immersion Technologies experienced a rally after strategic ETH moves, pointing to broader trends in the crypto domain.
Experts from Kanalcoin suggest that this strategic shift could impact the overall perception of Ethereum's potential as a corporate treasury asset. Historical trends have shown that such shifts might influence other firms' decisions in crypto treasury management. As McAndrew Rudisill, Executive Chairman of ETHZilla Corporation, stated, "In the future, the company believes its value will be driven by revenue and cash flow growth from our RWA tokenization business."
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