Crypto treasury firm ETHZilla has introduced a new token that provides exposure to equity in commercial jet engines it acquired last month, marking its continued shift toward tokenized real-world assets.
The company announced Thursday that the offering, named Eurus Aero Token I, is being issued through its newly formed subsidiary, ETHZilla Aerospace. The token is backed by two commercial jet engines currently leased to what the company described as a leading U.S. airline.
Each token is priced at $100, with a minimum investment of 10 tokens. ETHZilla said it is targeting an 11% return for investors who hold the token through the duration of the lease agreements, which run through 2028.
The firm was previously known as 180 Life Sciences Corp, a clinical-stage biotechnology company, before pivoting in July to a strategy focused on acquiring and holding Ether during a surge in crypto treasury activity.
Chairman and CEO McAndrew Rudisill said the initiative aims to broaden investor access and modernize fractional ownership in asset classes traditionally limited to institutional credit and private equity firms.
“Offering a token backed by engines leased to one of the largest and most profitable U.S. airlines demonstrates how blockchain infrastructure can be applied to aviation assets with contracted cash flows and global investment demand,” he said.
ETHZilla pivots beyond crypto treasury strategy
ETHZilla is moving away from a strategy focused solely on buying and holding Ether, as Chairman and CEO McAndrew Rudisill said in December that the company plans to prioritize bringing traditional assets on-chain through tokenization.
Crypto treasury firms saw rapid growth and investor enthusiasm last year, but momentum has cooled as digital asset prices declined across the broader market.
In January, ETHZilla acquired two commercial jet engines for a combined $12.2 million, partially funded by the sale of some of its Ether holdings. As part of its broader tokenization push, the company said it also intends to roll out tokenized products tied to other asset classes, including home and auto loans.
Some crypto industry executives have projected that tokenized real-world assets (RWAs) could see substantial expansion in 2026, particularly in emerging markets seeking improved access to capital and foreign investment.
Data from RWA.xyz estimates that more than $24 billion worth of RWAs are currently on-chain, held by over 846,000 investors as of Friday.
Ether holdings decline from prior peak
In a September filing with the U.S. Securities and Exchange Commission, ETHZilla reported holding 102,246 Ether at an average purchase price of approximately $3,948, valuing the position at around $443 million at the time.
Ether has since declined alongside the broader crypto market, trading between $1,872 and $2,130 over the past week, according to CoinGecko.
While Strategic Ether Reserves data lists ETHZilla as holding more than 93,000 Ether worth over $188 million, CoinGecko estimates the company’s current holdings are closer to 69,802 Ether, valued at roughly $136 million.
