Former Ethereum treasury company EthZilla has officially changed its name to Forum Markets, marking a clear shift in strategy.
Starting March 2, the company expects to trade under the new Nasdaq ticker FRMM, pending approval.
A new direction
Under the Forum Markets name, the company is no longer focused on holding Ethereum on its balance sheet. Instead, it is repositioning itself as a platform focused on tokenized real-world assets.
In simple terms, it wants to connect traditional financial markets with blockchain technology — offering investment products backed by real assets, but issued and managed on-chain.
Chairman and CEO McAndrew Rudisill said the new brand reflects the company’s belief that the future of finance will center around regulated, transparent, asset-backed digital products built for institutions.
Moving away from crypto treasury strategy
The company has already started winding down its crypto-heavy strategy. Earlier this month, it announced the purchase of two commercial jet engines leased to a major US airline. Those engines will support its first aviation-backed token offering, called Eurus Aero Token I.
Previously, when it operated as ETHZilla, the firm had embraced the crypto treasury trend. It had accumulated as much as 102,246 ETH at the peak of that strategy. But as investor excitement cooled and share prices fell, the company decided to pivot.
ETHZilla itself had transformed before — it was once known as 180 Life Sciences, a biotech firm, before shifting into crypto.
Investor reaction and Founders Fund exit
Shares jumped more than 13% after the rebrand announcement. Still, the stock remains down over 20% this year and far below its August 2025 highs.
Earlier this month, Founders Fund, the venture capital firm co-founded by Peter Thiel, exited its position in the company.
Forum Markets has also been selling some crypto holdings and launching share buybacks in an effort to steady its stock.
Now, the company is betting that tokenized real-world assets — not crypto treasury plays — are where the next wave of growth will come from.
