TLDR
- ETHZilla stock climbed over 13% to $3.91 after rebrand news.
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Company to trade as Forum under ticker FRMM from March 2.
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Firm sold over $114M in ETH to fund buybacks and debt repayment.
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Forum targets 10% yields from tokenized home loan portfolios.
ETHZilla shares rose more than 13% to around $3.91 after the company confirmed its rebrand to Forum Markets. The move marks a shift away from its original Ethereum accumulation strategy toward tokenized real-world assets. The stock reached its highest level in nearly a month following the announcement. Investors reacted as the firm outlined a broader push into income generating on chain products.
Company Rebrands to Forum and Adopts New Ticker
ETHZilla Corporation announced it will operate as Forum Markets Incorporated. Subject to Nasdaq approval, the company expects to begin trading under the ticker symbol FRMM on March 2, 2026. The CUSIP number will remain unchanged, and shareholders are not required to take action.
Chief executive officer McAndrew Rudisill said, “Forum represents who we are today—and where we are going.” He described the strategy as building institutional grade on chain products backed by real assets. The company stated that the rebrand reflects its evolution into a digital asset platform connecting traditional capital markets with blockchain infrastructure.
Senior vice president John Kristoff added that the focus has shifted from holding Ethereum to building income generating products using blockchain capabilities. The company said it aims to create transparent and regulated market infrastructure.
Shift Away From Pure Ethereum Treasury Model
ETHZilla originally positioned itself as an Ethereum focused treasury company. It raised $565 million in 2025 to accumulate ETH. However, falling ETH prices led to strategic changes.
In October, the firm sold about $40 million in ETH as part of a $250 million stock repurchase plan. In December, it sold another 24,291 ETH valued at about $74.5 million to redeem convertible notes. The company still holds 69,802 ETH, worth roughly $145 million, making it the sixth largest corporate Ethereum holder.
Management has indicated that future value will be driven by revenue and cash flow instead of crypto asset multiples. The firm has moved capital into assets that generate yield and structured returns.
Expansion Into Tokenized Real World Assets
Forum recently acquired a $4.7 million portfolio of 95 manufactured and modular home loans. The company plans to tokenize the loans on an Ethereum Layer 2 network. It targets annualized yields above 10% from these assets.
The firm also purchased two CFM56 aircraft engines for tokenization through Liquidity.io, an SEC regulated alternative trading system. Forum said its platform will generate value through yield on held assets, origination fees, asset management fees, and potential trading revenue.
The company has also established partnerships and distribution channels to scale tokenized offerings. It recently launched Eurus Aero Token I and expects to list additional tokenized products in 2026.
ETHZilla shares remain well below last August’s peak above $100. However, the recent rally reflects investor attention on the company’s repositioning toward tokenized assets and regulated infrastructure. The transition to Forum signals a broader shift from crypto treasury accumulation to structured on chain finance products backed by real world collateral.
