Ethereum is once again in the spotlight—not because of a protocol update or DeFi development, but due to a dramatic pivot by a publicly traded biotech company.
Formerly known as 180 Life Sciences, the firm has rebranded as ETHZilla and unveiled plans to build a $425 million Ethereum-based treasury, positioning itself as a benchmark for institutional on-chain finance.
Set to close by August 1, the private investment deal (PIPE) will raise the capital through stock sales priced at $2.65 per share. Backers include major crypto players like Electric Capital, Polychain, Harbour Island, and key figures from Lido and Compound. The entire sum will be allocated to Ethereum, establishing it as the company’s primary treasury reserve—mirroring similar moves by firms like SharpLink Gaming, which now holds over 438,000 ETH.
ETHZilla isn’t just stockpiling ETH—it’s going fully on-chain. The company plans to deploy its assets using staking, lending, liquidity provisioning, and structured DeFi agreements, all managed externally by Electric Capital. The objective: generate stronger returns than traditional staking while carefully managing risk.
To complement this strategy, ETHZilla received clearance to raise an additional $150 million through a future debt issuance. Meanwhile, a new DeFi group called Etherealize—led by developers from some of Ethereum’s top protocols—will help guide treasury deployment and ecosystem participation.
The firm aims to go public after this private round, but its shares will remain unavailable on the open market until regulatory filings are complete. ETHZilla’s long-term mission? To serve as a flagship public company for Ethereum-based treasury management.
At the time of writing, Ethereum is trading at $3,770.65, up 0.22% on the day, with trading volumes nearing $36.25 billion, reflecting steady investor engagement as institutional interest continues to climb.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/biotech-firm-rebrands-to-launch-425m-ethereum-treasury/