The company ETHZilla announced it will abandon its model of buying ETH onto the balance sheet and will rebrand as Forum Markets.

Corporate changes

Management confirmed the company will change its trading symbol from #ETHZ to #FRMM as part of the rebranding and strategic shift away from balance-sheet crypto purchases.

Background to the move

In 2025 the firm known as 180 Life Sciences began accumulating ETH on its balance sheet with the aim of materially increasing shareholder value.

In July 2025 the company renamed itself ETHZilla and changed its ticker from #ATNF to #ETHZ, continuing the crypto-focused strategy.

Market consequences

During 2025 several companies pursued similar strategies of buying cryptocurrency on leverage and altering names and tickers to reflect crypto exposure.

Subsequently, equity markets corrected, and shares of many of those companies fell by 60 to 90% from their 2025 peaks, leaving several firms close to insolvency.

Implications for investors

The corporate shift by ETHZilla to Forum Markets signals an exit from the prior balance-sheet accumulation model and a repositioning of corporate identity.

Investors should note the company-specific changes and the broader pattern of market stress among firms that adopted leveraged crypto holdings during 2025.