ETHZilla Corporation has changed its corporate name to Forum Markets, Incorporated and plans to begin trading under the ticker symbol FRMM on March 2, 2026, subject to Nasdaq approval. The company announced the rebrand from Palm Beach, Florida, stating that its CUSIP number will remain unchanged and that no action is required from shareholders.
The move marks a strategic shift away from its prior identity as an Ethereum treasury-focused firm toward a digital asset platform centered on tokenized real-world assets. The company said the rebrand reflects the next phase of its evolution into a platform that connects traditional capital markets with blockchain-based financial infrastructure.
“Forum represents who we are today—and where we are going,” said McAndrew Rudisill, chairman and chief executive officer. “Forum embodies our belief that the next generation of financial markets will be built around institutional-grade, on-chain products backed by real assets, governed by transparency, and delivered through regulated infrastructure.”
NEWS: ETHZilla drops its $ETH treasury label and pivots to tokenization, rebranding as Forum Markets. pic.twitter.com/imHmwSar2W
— CoinGecko (@coingecko) February 26, 2026
Ethereum treasury to infrastructure platform
ETHZilla previously operated as an Ethereum treasury vehicle after transitioning from its former biotech identity as 180 Life Sciences. During the height of its treasury strategy, the company accumulated as much as 102,246 ETH and raised approximately $565 million to expand its Ethereum reserve initiative.
The strategy attracted investor attention during strong crypto market conditions. Shares climbed above $100 at one stage. However, volatility in Ether’s price exposed the risks of reliance on a single-asset treasury model. As crypto markets cooled, ETHZ shares declined more than 20% on a year-to-date basis, despite a 13% increase following the rebrand announcement.
The company reduced its crypto exposure in recent months. In October 2025, it sold about $40 million in ETH as part of a $250 million stock repurchase plan. In December, it sold an additional 24,291 ETH, valued at roughly $74.5 million at the time. Earlier this month, Peter Thiel’s Founders Fund exited its position in the company.
Management stated that the new direction aims to reduce dependence on token price movements and focus on recurring revenue and structured asset products.
Building tokenized real-world asset pipelines
Forum Markets said it has executed against a strategy since August 2025 to build infrastructure, partnerships, and asset pipelines to bring real-world assets on-chain at an institutional scale. The company established exclusive regulated distribution through Liquidity.io and made strategic equity investments in AI-driven credit and underwriting platforms.
It also secured access to asset pools across sectors that include auto loans, manufactured housing finance, and aerospace equipment.
Earlier this month, the company acquired a $4.7 million portfolio of 95 manufactured and modular home loans from Zippy Manufactured Home Credit Fund I L.P. It plans to tokenize the loans into a cash-flow-generating product. The company stated that it expects annual yield above 10% from that portfolio.
Forum also purchased two CFM56-7B24 aircraft engines, which will underpin its first aviation-backed offering, the Eurus Aero Token I. The engines are leased to a leading US air carrier.
“Forum is intentionally enduring and institutional,” said John Kristoff, senior vice president, corporate communications and investor relations. “It represents a meeting place where asset originators, institutional capital, and modern financial infrastructure converge. While we remain strong believers in Ethereum, our focus has evolved from passively holding the asset on our balance sheet to harnessing its full blockchain capabilities to build durable, income-generating products backed by real assets and delivered through compliant, transparent markets.”
Revenue model and market positioning
Forum outlined four revenue engines: yield generation on assets held prior to tokenization; origination fees from the creation of tokenized products; recurring asset management fees; and potential transaction-based revenue from secondary market trading.
The company said its platform will aggregate, structure, and tokenize cash-generating assets that were historically accessible only to large institutions. Through subsidiaries and strategic partners, it intends to establish a repeatable pipeline to originate and distribute tokenized investment products across multiple asset classes.
Forum expects to expand into additional asset categories in 2026, including real estate-related credit opportunities. It also plans deeper engagement with institutional investors as it advances its execution phase.
The company described the rebrand as a natural evolution of strategy and identity. Management emphasized that the focus now lies in creating regulated infrastructure for on-chain income products rather than maintaining a treasury-heavy balance sheet strategy.
Forum Markets will continue to operate on Ethereum-based infrastructure. The company stated that it aims to modernize capital markets by bringing institutional-grade real-world assets onto blockchain rails, broadening investor access and enabling more efficient primary issuance and secondary trading.
Roman Zaika
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