ETHZilla rebrands Forum and shifts towards RWA tokenization, stock price rises over 13%

Odaily Planet Daily reports that digital asset company ETHZilla has officially rebranded as Forum and is further advancing its real-world asset (RWA) tokenization strategy. Following the announcement, the company’s stock price rose over 13%, reaching approximately $3.91, the highest in nearly a month.

ETHZilla was originally spun off from biotech company 180 Life Sciences, which was positioned as a publicly traded company focused on Ethereum reserves. In 2025, it raised about $565 million to establish an ETH asset treasury. However, due to Ethereum’s price dropping over 50% since August last year, the company has gradually shifted its strategy from simply holding tokens to an asset allocation focused on cash flow.

In recent months, the company has sold ETH assets multiple times, including approximately $40 million worth of ETH in October last year for stock buybacks, and about 24,300 ETH (roughly $74.5 million) in December to repay debt. Currently, the company still holds about 69,800 ETH, valued at around $145 million, making it one of the world’s sixth-largest enterprise Ethereum holders.

As part of its strategic transformation, Forum recently acquired a batch of modular housing loan assets valued at approximately $4.7 million, with plans to tokenize them on the Ethereum Layer 2 network, targeting an annualized return of over 10%. The company also purchased two aircraft engines, planning to tokenize their issuance through a compliant trading system.

Management stated that future valuation will rely more on income and cash flow generated from the RWA tokenization platform, rather than core metrics like net asset value multiples. Despite the recent stock price rebound, it remains well below the over $100 peak reached in August last year.