Peter Thiel-linked Founders Fund has fully exited Ether treasury company ETHZilla, according to a 13G amendment filed Tuesday with the US Securities and Exchange Commission showing zero shares held.
The group had previously disclosed a 7.5% stake on Aug. 4, 2025, when the company was still known as 180 Life Sciences Corp., owning 11,592,241 shares worth about $40 million at roughly $3.50 per share.
180 Life Sciences raised $425 million in July 2025 to pivot into an Ether treasury strategy and rebrand as ETHZilla, later seeking an additional $350 million through convertible bonds to expand its Ether holdings and deploy capital into decentralised finance and tokenised assets.
At one point holding more than 100,000 ETH, ETHZilla sold 24,291 Ether for $74.5 million in December 2025 at an average price of $3,068.69 to repay debt, leaving approximately 69,800 ETH on its balance sheet.
Thiel’s exit adds pressure to public companies pursuing Ether-heavy treasury models, particularly as markets have turned volatile following last year’s peak.
While BitMine Immersion Technologies increased its Ethereum holdings to more than 4.325 million ETH, worth about $8.8 billion at current prices, Trend Research began unwinding its entire Ethereum position, selling 651,757 ETH for roughly $1.34 billion and realising an estimated $747 million loss.
ETHZilla has attempted to diversify by launching ETHZilla Aerospace to offer tokenised exposure to leased jet engines, but the full exit by Founders Fund highlights the strain facing Ether-based treasury strategies in the current market environment.
At the time of reporting, Ethereum price was $1,966.44.