US-based venture capital firm Founders Fund and technology investor Peter Thiel divested all their shares in Ethereum-focused treasury company ETHZilla. According to the official document submitted to the US Securities and Exchange Commission, the company has reset its share in ETHZilla shares as of the beginning of 2026. With this sale, Founders Fund’s ownership, which had reached 7.5 percent for a period, ended completely.
Rapid strategy change and response
Founders Fund’s sale of all its shares in a short time attracted attention with the company’s rapid rise in August 2025. At that time, Founders Fund joined the company with a total capital increase of $581 million during the transformation process of ETHZilla. ETHZilla is a Nasdaq-listed company that has historically operated in the biotechnology sector. But with a rebranding and change of strategy, it began focusing on digital asset management and Ethereum accumulation.
ETHZilla stake decline and market impact
According to data reported to the SEC, Founders Fund’s stake in ETHZilla dropped to 5.6 percent in September 2025. After the sale in January 2026, he no longer has any shares in the company. With this development, ETHZilla shares lost 3 percent in after-hours trading. There has been a total decrease of 28 percent in the company’s share price since the beginning of the year.
ETHZilla still holds a notable position in the corporate treasury segment. The company has approximately 82,186 ETH on its balance sheet, corresponding to digital assets worth approximately $349 million. In addition, it has $238 million in cash reserves.
New products and ongoing moves in Web3 strategy
The exit of Founders Fund and Peter Thiel is seen as a significant shift in the investment approach in this area. However, ETHZilla continues its new initiatives in the field of digital assets and Web3. The company recently launched Eurus Aero Token I through one of its subsidiaries, ETHZilla Aerospace. This product enables users to participate in the aircraft engine rental market through digital tokens. ETHZilla is also developing new solutions in areas such as automotive loans and commercial real estate, focusing on the goal of on-chain tokenization of real-world assets (RWA).
In another development regarding the Ethereum ecosystem, the statements of Vitalik Buterin, one of the founders of the platform, came to the fore. Buterin reminded that Ethereum does not belong to a specific person or team. He pointed out that blockchain can be used without the obligation to subscribe to anyone’s opinion.
Vitalik Buterin stated that his approval, the Ethereum Foundation, or the protocol developers are not required to develop applications or conduct transactions on Ethereum; He emphasized the permission-free and censorship-resistant structure of the platform.
ETHZilla’s long-term strategy puts the company ahead in both the management of digital assets and the integration of blockchain technology into traditional sectors. The amount of Ethereum the company reserves indicates that it maintains its influence in the corporate market. After the exit of Peter Thiel and Founders Fund, industry participants are focusing on ETHZilla’s new road map and possible partnerships.
