Ether treasury company ETHZilla has approved a $250 million share repurchase program, indicating a shift toward utilizing digital-assets for liquidity. The board authorized the buyback of its outstanding shares after the company acquired 102,237 ETH at an average price of $3,948.72, totaling over $403 million. This investment, now worth around $489 million, signifies a strategic pivot to make Ether its core focus. However, ETHZilla faces challenges, including limited revenues and an accumulated deficit exceeding $141.5 million. Analysts have noted that the rise in crypto as a treasury asset parallels previous corporate investments in gold, but caution against the risks of heavy leverage in market downturns. Falling ETH prices could severely impact companies with debt-financed crypto strategies. As of now, Ether is notably exposed, with approximately 3.4% of its total supply held in corporate treasuries.

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