Core Insights - ETHZilla has sold 24,291 ETH for approximately $74.5 million to repay outstanding debt, indicating a focus on managing balance-sheet risk rather than a bearish outlook on Ethereum [1][2] - The company plans to discontinue its mNAV dashboard, shifting its valuation focus from crypto treasury to revenue and cash flow from its real-world asset (RWA) tokenization business [3][5] - The sale is viewed as a strategic repositioning rather than capitulation, as Ethereum remains part of its balance sheet but is no longer the core investment thesis [5] Company Actions - ETHZilla will use the proceeds from the ETH sale primarily for debt repayment, with redemptions scheduled before New Year's Eve [2] - The company is transitioning from a crypto-treasury-driven model to one centered on RWA tokenization, indicating a broader strategic shift [5] Market Impact - Following the announcement of the sale, ETHZilla's stock price dropped nearly 5%, reflecting market reactions to the news [6][7] - Ethereum has been trading near the $3,000 level, rebounding from mid-December lows around $2,900, amidst broader market uncertainties and mixed institutional flows [7]

ETHZilla sold 24,291 ETH for ~$74.5M to redeem senior secured convertible notes and will discontinue its mNAV dashboard. The company says future value will focus on RWA tokenization revenue, while continuing periodic balance sheet and ETH treasury disclosures. https://t.co/aa9SpgvcqU ...