Biotechnology firm ETHZilla, formerly 180 Life Sciences, is raising $425 million through a private stock sale to establish an Ethereum-based treasury. The treasury will be fully backed by Ethereum assets and actively managed by venture firm Electric Capital using decentralized finance (DeFi) strategies, with established risk controls for asset oversight.
The funding round has attracted major institutional backers including Electric Capital, Polychain, Harbour Island, and key figures from Lido and Compound, signaling strong confidence in the initiative. ETHZilla intends to pursue a public listing after the funding closes, though shares will remain restricted pending final regulatory approvals.
This strategic move aligns with growing institutional adoption of Ethereum and DeFi mechanisms for treasury diversification and yield generation, representing a notable shift toward crypto-based corporate finance solutions.