On December 19, 2025, ETHZilla disclosed it had sold approximately 24,291 Ether (ETH) for an aggregate of $74.5 million, that it expects to use all, or a significant portion, of this funding to redeem its outstanding senior secured convertible notes, and that it "plans to continue to evaluate various capital raising strategies including ETH sales and equity offerings, as it seeks to complete its business plans, including the tokenization of real world assets." Then, during pre-market hours on December 22, 2025, the Company disclosed that "[i]n the future, the Company believes its value will be driven by revenue and cash flow growth from our RWA tokenization business."
Following this news, ETHZilla's stock price fell over 8% on December 22, 2025.
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