Publicly traded company ETHZilla, formerly 180 Life Sciences Corp (NASDAQ: ATNF), raised $156 million through senior secured convertible notes due in 2028, as announced on August 11, 2025. Executive Chairman McAndrew Rudisill confirmed the capital will be deployed to significantly expand the company's Ethereum (ETH) holdings, strengthening both its balance sheet and cryptocurrency treasury strategy.
The convertible notes offering marks a strategic pivot toward Ethereum, with ETHZilla committing to regular transparency updates regarding its ETH accumulation. Analysts suggest this $156 million injection could trigger short-term ETH price volatility during accumulation phases but may foster long-term stability as institutional adoption grows. The move reflects an emerging trend of public companies diversifying into cryptocurrency reserves, historically observed with Bitcoin but now extending to Ethereum.
Market observers indicate this corporate endorsement could influence other firms to consider similar ETH treasury strategies, potentially reshaping Ethereum's market dynamics. While no immediate regulatory concerns were noted, the scale of investment underscores increasing institutional confidence in Ethereum's role within corporate finance frameworks.