Emre Yumlu 
The crypto market has been shaken by a major announcement. ETHZilla (ETHZ) has filed to sell shares worth up to $10 billion, with the company planning to use the proceeds directly for Ethereum (ETH) acquisitions.
Sales Agreement and Process
ETHZilla entered into a “Sales Agreement” with Clear Street LLC on August 13, 2025, later amended on August 22, 2025. Under this agreement, the company will be able to sell shares of common stock totaling up to $10 billion through Clear Street.
So far, ETHZilla has already sold around 5,001,310 shares, generating approximately $34.4 million. However, with this new filing, the scale of sales is expected to expand significantly.
ETHZilla on Nasdaq
ETHZilla shares are listed on the Nasdaq Capital Market under the ticker symbol “ETHZ.” As of August 21, 2025, the company’s stock was trading at $4.81 per share.
Execution of Sales
Sales may be conducted either directly or as at-the-market offerings, with Clear Street acting as the sales agent. The firm will earn up to 3% commission on gross proceeds. In some cases, Clear Street may even purchase the stock directly for its own account.
ETHZilla has also agreed to provide Clear Street with indemnification for certain legal liabilities as part of this arrangement.
Potential Impact on Crypto Markets
This ambitious $10 billion sales plan, with proceeds earmarked for Ethereum purchases, could generate strong buying pressure in the market. If executed, this move may have a noticeable impact on ETH prices and possibly influence broader crypto sentiment.
Investors are closely watching how this development could ripple through Bitcoin, Ethereum, and the wider altcoin markets in the weeks ahead.
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