180 Life Sciences Moves to Ethereum Reserve, Secures $425 Million

180 Life Sciences Corp. (NASDAQ: ATNF) is set to rebrand as ETHZilla Corporation, raising $425 million through private equity to transform into an Ethereum Treasury Reserve company.

This move positions ETHZilla as a pioneering publicly-listed entity focused on Ethereum reserves, potentially influencing market dynamics and institutional interest in digital asset management strategies.

180 Life Sciences Rebrands as ETHZilla with $425M Boost

180 Life Sciences Corp. has decided to transition into an Ethereum Treasury Reserve company, rebranding itself as ETHZilla Corporation. Securing approximately $425 million from various private equity investors, including Harbour Island and Electric Capital, the company aims to redefine its role in the digital asset landscape. Electric Capital will serve as the external asset manager, implementing a unique on-chain yield generation program to exceed traditional ETH staking methods.

As the company shifts focus, it aims to impact Ethereum’s financial landscape with new yield models. These models will involve staking, lending, and liquidity provisioning within the Ethereum network, aiming at maximizing returns while managing risk effectively.

“180 Life Sciences Corp. is undergoing a transformative shift aimed at becoming an Ethereum Treasury Reserve company, to be renamed ETHZilla Corporation. The company has secured approximately $425 million in private financing to support this venture, led by a consortium of significant players in the digital asset space.”

ETH’s Surging Price Supports Corporate Digital Asset Shifts

Did you know? Similar to MicroStrategy’s historic Bitcoin treasury strategy, ETHZilla Corporation’s move could redefine public company engagement with digital assets, challenging the conventional financial industry.

Ethereum (ETH) is currently priced at $3,819.28, with a market cap of $461.03 billion and a 24-hour trading volume of $34.82 billion, according to CoinMarketCap. The past quarter showcases significant positive movements with a 116.72% increase over 90 days.

According to the Coincu research team, such a transformation potentially reshapes financial norms by setting innovative precedents for corporate treasury management. Digital asset treasury strategy may see broader adoption and pave the way for similar corporate maneuvers in established markets.