ETHZilla, a rebranded Nasdaq-listed biotech firm formerly known as 180 Life Sciences, has secured $425 million in private funding to adopt an ether-focused treasury strategy. This investment, which forms part of a private investment in public equity (PIPE), includes backing from sixty institutional and crypto-native investors, including major players like Polychain Capital and Electric Capital. The firm intends to use the funding primarily to accumulate ether (ETH) and implement an on-chain yield generation program combining staking, lending, and liquidity provisioning. Additionally, a DeFi Council comprising members from various DeFi platforms will be established to advise on monetization strategies for the ETH treasury. This move positions ETHZilla among a growing number of companies engaging with Ethereum, collectively holding approximately $9.5 billion worth of ETH, about 2% of its total supply. The strategic shift aligns with a broader trend of publicly traded firms exploring crypto treasury management to enhance their investment returns.

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