The ETHZilla Opportunity

ETHZilla, a newly rebranded former biotech company, is positioning itself as a DeFi-focused Ethereum treasury firm, with backing from Peter Thiel and Electric Capital. As of August 27, it held 102,237 ETH, bought at an average of $3,948.72 for roughly $403M. Co-hosts Mac Rudisill and Avichal Garg of Electric Capital argued on Bankless that a treasury model offers advantages over ETH ETFs, including full staking and additional on-chain yields. The company also reported $215M in cash equivalents and a $250M buyback program.