Peter Thiel simply made a quiet however loud transfer. He and Founders Fund have totally exited their place in Ethereum treasury agency ETHZilla. The affirmation got here by way of a contemporary 13G submitting with the SEC.
That could be a sharp pivot. Simply months in the past, Thiel’s entry despatched the inventory flying greater than 90%. Now he’s out.
The timing raises eyebrows. It means that institutional enthusiasm for this Ethereum treasury mannequin could also be cooling, particularly with broader market volatility again in focus.
Key Takeaways:
- Whole Exit: Founders Fund liquidated its total stake following an preliminary 7.5% acquisition in August 2025.
- Market Influence: ETHZilla shares slid almost 7% to $3.20 in premarket buying and selling, down 97% from their $107 peak.
- Strategic Pivot: The agency is shifting focus from pure ETH accumulation to tokenizing real-world property (RWA) like plane engines.
What Does the Exit Sign?
This isn’t simply any investor stepping apart. Founders Fund was one of many largest early backers, taking a 7.5% stake when ETHZilla pivoted from biotech right into a digital asset treasury play. On the time, that transfer felt like severe institutional validation for Ethereum linked stability sheet methods.
Now they’re out. Fully.
BREAKING: Peter Thiel Totally Exits ETHZilla – What It Means
Billionaire Peter Thiel simply dumped his ENTIRE stake in #ETHZilla – The corporate that attempted to be the "MicroStrategy of Ethereum."
They raised $425M, hoarded 100,000+ ETH, bought Thiel's backing… and now?
→ $ETH Crashed… pic.twitter.com/ykaQ1uDJND— Crypto Patel (@CryptoPatel) February 18, 2026
That doesn’t routinely imply they’re bearish on crypto itself. It seems extra like a shift in confidence towards this particular treasury mannequin. The excellence issues.
Apparently, Founders Fund has saved publicity to different crypto infrastructure names. That implies selectivity, not retreat. In unstable markets, capital typically consolidates into what it sees as greater high quality performs slightly than spreading threat broadly.
Breaking Down the Submitting And What May Occur Subsequent
The SEC submitting exhibits Founders Fund totally liquidated its place. No trimming. No partial exit. A clear break. The market didn’t take it flippantly.
ETHZilla shares fell almost 7% in premarket buying and selling, hovering round $3.20. That could be a brutal 97% drop from the $107 peak final August.
The weak spot strains up with the corporate’s personal strikes. ETHZilla just lately bought $40 million value of ETH for inventory buybacks and one other $74.5 million to handle debt. It now holds about 69,802 ETH, roughly $139 million at present costs. That’s small in comparison with bigger treasury gamers within the area.
The agency is now shifting towards actual world asset tokenization, focusing on areas like housing loans and plane engines.
At this stage, the story is not nearly holding ETH. It’s about whether or not the RWA technique can generate actual income and stabilize the enterprise mannequin.
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