Peter Thiel Fully Exits Ethereum Treasury Firm ETHZilla, Selling Entire Stake

Billionaire tech investor Peter Thiel and his associated vehicles, including Founders Fund, have fully exited their position in Ethereum treasury company ETHZilla Corporation (NASDAQ: ETHZ), according to an amended SEC Schedule 13G filing dated mid‑February 2026 covering holdings as of December 31, 2025. Thiel had first disclosed a 7.5% stake in August 2025, acquired as ETHZilla (the former biotech firm 180 Life Sciences) rebranded and pivoted into a leveraged Ethereum corporate treasury play, holding over 80,000–82,000 ETH at peak and briefly sending its share price above $170. By late 2025, however, ETHZilla’s stock had fallen around 95–97% from its highs to roughly $3–5 per share, forcing the company to sell large tranches of ETH—about $40 million in October and $74.5 million in December—to service debt from convertible notes and adjust its balance sheet. Thiel’s complete divestment removes one of ETHZilla’s most high‑profile backers and is widely interpreted as a setback for the Ethereum treasury stock narrative that had drawn comparisons to MicroStrategy’s Bitcoin strategy. Commentators note that Thiel has historically expressed a preference for Bitcoin over Ethereum, and his exit from an ETH‑centric treasury model is being read as a sign of waning institutional appetite for highly leveraged, single‑asset Ether balance sheets rather than a clear verdict on Ethereum itself. In response to the stock collapse and treasury strain, ETHZilla is attempting another strategic pivot toward real‑world asset (RWA) tokenization through its ETHZilla Aerospace unit, including tokenized jet engine leasing products (such as the Eurus Aero Token I on Arbitrum) and other asset‑backed yield offerings, as it seeks to rebuild a business model beyond a pure ETH hoard.

✨ AI-generated background, compiled from web sources — not editorial content.

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