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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Investor Frenzy Inflates Share Price

Metaplanet, Asia’s largest Bitcoin treasury holder, is witnessing an extraordinary surge in its stock value. According to a May 27 report by 10x Research, investors are paying as if BTC is valued at $596,154—over five times its actual market price of around $109,499. This premium highlights how retail investors may be drastically overpaying for indirect Bitcoin exposure.

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The report warns that those ignoring a firm’s Net Asset Value (NAV) might be walking into overvalued positions with limited upside. Another prominent example is MicroStrategy, whose shares suggest an implied Bitcoin price of $174,100. These premiums, while boosting corporate valuations, may ultimately dilute value for incoming shareholders.

Corporate Bitcoin Holdings Expand

Metaplanet currently holds more than 7,800 BTC, worth over $855 million, representing 0.037% of the total supply. After a recent purchase of 1,004 BTC on May 19, the firm is targeting a total of 21,000 Bitcoin by 2026. This aggressive accumulation strategy is applauded by some for advancing adoption but raises questions as retail investors are pushed into paying steep premiums rather than buying BTC directly.

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The ETF will track the spot market price of SEI as determined by CoinDesk Indices, and its Net Asset Value (NAV) will be published daily at 4 PM New York time. It will not use derivatives but instead hold actual SEI tokens in custody.

Earn Rewards Through SEI Staking

Custody of SEI tokens will be managed by BitGo Trust Company and Coinbase Custody Trust Company. While not insured by the FDIC, both custodians maintain private insurance policies to mitigate risks.

This ETF simplifies SEI investment for regular investors, eliminating the need for blockchain knowledge, private key management, or staking know-how. One of its standout features is its integration with staking, allowing the fund to earn additional SEI rewards via the proof-of-stake (PoS) mechanism of the Sei Network.

Canary Capital is also pursuing other crypto ETFs, including a TRX-backed fund. While the SEI ETF is still pending SEC approval, its launch could mark a significant step forward in making digital assets accessible through mainstream investment platforms.

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The post Canary Capital Files for First-Ever Staked SEI ETF With SEC appeared first on Coin Engineer.

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The report mentions that although outflows from Grayscale’s GBTC have slowed down in the fourth week since SEC approval, the fund is still expected to experience outflows to the newly launched ETFs, particularly those from Blackrock and Fidelity. This shift can accelerate if there is no significant reduction in fees.

Grayscale’s high fees compared to the spot Bitcoin ETFs further emphasize the competitive advantage of the latter. However, it’s worth noting that Grayscale’s fees are still considered high relative to its competitors.

JPMorgan analysts emphasize that Blackrock and Fidelity ETFs already have an advantage over GBTC in terms of liquidity metrics. Notably, the bank’s Hui-Heubel ratio-based market depth representation shows that Blackrock and Fidelity ETFs exhibit significantly more market depth than GBTC.

The report also includes a measurement based on the “average absolute deviation” of ETF closing prices from NAV (net asset value). This measurement, conducted last week, indicates a significant improvement in the liquidity of Fidelity and Blackrock spot Bitcoin ETFs, while deviations for the GBTC ETF remain high, implying lower liquidity.

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Binance Will End Leveraged Transactions

We suggest users use their ADAUP and ADADOWN leveraged tokens before we delist them, through the wallet function or Leveraged Tokens page. If the users still hold these leveraged tokens after the delisting time, Binance will convert the tokens to USDT based on the relevant net asset values (NAV) and will distribute the USDT tokens to users’ accounts within 24 hours. After the distribution is complete, the ADAUP and ADADOWN leveraged token assets will not be in the wallet anymore.

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If you have no account on Binance, you can register to the exchange using our link with a 20% commission discount, and you can start to take advantage of many opportunities.

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