ETHZilla shares jumped 13% on Wednesday after the company announced it is rebranding to Forum as part of a strategic shift away from its crypto treasury model toward becoming a tokenization-focused firm.
The company revealed it has updated its corporate name and brand to Forum Markets and will operate under the name Forum. It also plans to change its Nasdaq ticker symbol from “ETHZ” to “FRMM” at the market open on Monday, subject to approval.
According to the company, the rebrand marks the next phase in its evolution into a platform aimed at “connecting traditional capital markets with blockchain-based financial infrastructure.”
“Forum embodies our belief that the next generation of financial markets will be built around institutional-grade, on-chain products backed by real assets, governed by transparency, and delivered through regulated infrastructure,” said Chair and CEO McAndrew Rudisill.
Shares of ETHZilla (ETHZ) closed Wednesday up more than 13% at $3.91 and remained flat in after-hours trading, holding onto gains after briefly dipping earlier in the session.
The company’s stock is down more than 20% year to date, pressured by a broader crypto market downturn that has weighed on digital asset–linked equities.
ETHZilla was previously a biotech firm known as 180 Life Sciences before rebranding and shifting strategy in July 2025 to accumulate and hold Ether (ETH) at the height of enthusiasm around crypto treasury companies. The move initially sent its shares soaring to a multi-year high of $107 by August, as ETH climbed to nearly $4,950 during the same period. However, the subsequent market slump sharply eroded those gains, dragging down ETHZilla’s stock along with other crypto-focused firms.
As investor interest shifted from crypto treasury plays to tokenization ventures, CEO McAndrew Rudisill announced in December that the company would pivot toward bringing real-world assets (RWA) on-chain through tokenization.
Since then, ETHZilla has acquired two commercial jet engines leased to what it described as a “leading US air carrier” and earlier this month launched a token backed by those assets, named Eurus Aero Token I.
The company currently holds 69,802 ETH valued at approximately $143.7 million at a price of $2,060 per token, making it the seventh-largest corporate holder of Ether, according to CoinGecko.
