Shares of the previous 180 Life Sciences (ATNF) soared Wednesday after the biotechnology firm mentioned it plans to rebrand as ETHZilla and can pursue an Ether treasury technique.
The inventory jumped as a lot as 70% Wednesday morning, earlier than paring again. The shares have been up about 5% in current buying and selling, leaving the inventory’s year-to-date beneficial properties round 500%.
The corporate, which was initially fashioned to deal with creating therapeutics in continual ache, irritation and fibrosis, mentioned it now holds nearly $350 million in Ether, the second-biggest cryptocurrency after Bitcoin, and plans to purchase extra.
The value of the Ether hovered close to all-time highs Wednesday at over $4,700 and has added near half its worth in 2025 amid optimism a few extra crypto-friendly regulatory environment underneath the Trump administration.
The transfer by ETHZilla, which counts billionaire Peter Thiel amongst its backers, echoes the playbook of Technique (MSTR), previously generally known as MicroStrategy, which has turn out to be the largest corporate holder of Bitcoin as a part of its Bitcoin treasury technique.
The value of Bitcoin, which hovered close to all-time highs Wednesday at about $121,600, has added near a 3rd of its worth in 2025. Shares of Technique have additionally climbed by roughly a 3rd over the identical interval.
