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ETH Treasury Fund ETHZilla Announces Sale of 24,200 ETH to Repay Debt, Shift Focus to RWA Tokenization Business
BlockBeats News, December 22, U.S. stock market ETH treasury-listed company ETHZilla officially announced on social media that as part of redeeming its issued senior secured convertible notes, ETHZilla has sold 24,291 ETH, raising approximately $74.5 million.
ETHZilla plans to use all or the vast majority of the proceeds to redeem. Looking ahead, the company believes that its value will mainly come from the revenue and cash flow growth brought by Real World Asset (RWA) tokenization business. Therefore, effective immediately, ETHZilla will stop updating the "adjusted asset net value" (mNAV) dashboard on its official website but plans to continue providing regular balance sheet updates.
Furthermore, ETHZilla will continue to disclose any significant changes in its ETH holdings and/or share count through SEC (U.S. Securities and Exchange Commission) filing documents and social media.
As of the time of writing, ETHZ was down 3.91% against the market trend in the U.S. stock market today.
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