Yeliz Akmaca 
Ethereum-focused digital asset treasury company ETHZilla (ETHZ) sold $40 million worth of ETH to fund its share buyback program. The move aims to increase NAV per share and reduce the market supply of shares.
Share Buyback Strategy
On October 24, 2025, ETHZilla used part of the proceeds from the ETH sale to repurchase approximately 600,000 shares for $12 million. This buyback is part of a larger $250 million program approved in August. The company plans to continue share repurchases using remaining funds until the NAV discount returns to normal, selling ETH strategically to fund further buybacks.
CEO McAndrew Rudisill stated:
“We are leveraging the strength of our balance sheet, including reducing ETH holdings, to execute share buybacks. These buybacks are expected to immediately add value using the cash from our ETH sale while shares trade at significant discounts to NAV.
We plan to opportunistically repurchase shares while they trade below NAV, reducing the number of shares available for lending/borrowing and increasing our NAV per share.”
ETH Sale and Market Reaction
ETHZilla’s $40 million ETH sale occurred when ETH was around $3,900. Following the sale, ETH briefly rose but later settled at $4,150. The strategic sale sends a clear signal to the market against selling shares at a NAV discount.
About ETHZilla
ETHZilla Corporation (Nasdaq: ETHZ) is a technology company operating in the decentralized finance (DeFi) sector. The company provides secure and accessible blockchain operations through Ethereum protocol applications, connecting financial institutions, businesses, and organizations globally. ETHZilla also generates recurring revenue through DeFi protocols that enhance Ethereum network security and integrity.
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