Former Ethereum treasury firm EthZilla has officially rebranded as Forum Markets as it moves ahead with its pivot towards a full-fledged tokenized real-world assets-focused firm.

According to the official announcement, the company has updated its corporate name and brand to Forum Markets as it shifts its focus away from its earlier positioning as an Ethereum treasury company. As part of the rebranding, the company has also changed its Nasdaq ticker symbol to FRMM and is expected to begin trading under the new symbol on March 2, pending Nasdaq approval.

“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,” the company’s chairman and CEO, McAndrew Rudisill, said in an accompanying statement.

Forum has already begun phasing out its balance sheet crypto strategy and announced earlier this month that it had acquired two commercial jet engines leased to a “leading US air carrier,” which will underpin its first aviation-backed offering, the Eurus Aero Token I.

ETH treasury plans fail to hold investor attention

ETHZilla shares climbed more than 13% after the company announced the rebrand and ticker change. However, on a year-to-date basis, the company’s shares were down over 20% as crypto treasury stocks have struggled to gain traction over the past months.

ETHZilla, formerly a biotech company known as 180 Life Sciences, transitioned into an Ethereum treasury firm last year while crypto treasury stocks were trending. Subsequently, it acquired as much as 102,246 ETH at the height of the strategy, but as the initial enthusiasm faded and share prices retreated, the company later announced its intent to pivot toward the tokenized real-world asset market.

Earlier this month, Peter Thiel’s Founders Fund, an early backer of the company, exited its position. ETHZilla has also moved to sell portions of its assets to scale back its crypto exposure and initiate share buybacks in an effort to stabilise its equity performance.

View sources >>  ETH treasury firm ETHZilla rebrands as Forum Markets to focus on tokenization