COINOTAG News reports that on August 18th, ETHZilla Company (NASDAQ: ETHZ) has made a significant announcement regarding its strategic shift towards an Ethereum reserve initiative. Previously known as 180 Life Sciences Corp, the company is establishing a platform dedicated to creating a community-driven Ethereum (ETH) reserve that emphasizes stakeholder engagement.
This transition will also impact trading activity, with ETHZ’s common stock and public warrants now listed under the new ticker symbols ETHZ and ETHZW, respectively. The earlier symbols, ATNF and ATNFW, will be phased out without necessitating any action from shareholders.
Moreover, following a successful fundraising round totaling $425 million through a private investment in public equity (PIPE) and a $156.25 million issuance of convertible notes, ETHZilla has acquired approximately 94,675 ETH at an average cost of $3,902.20. Currently, this investment is valued at around $419 million, alongside liquid assets estimated at $187 million.