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Peter Thiel has completely exited his holdings in Ethereum treasury company ETHZilla by the end of 2025.
According to SEC Form 13G, as of December 31, 2025, Peter Thiel has fully divested from Ethereum treasury company ETHZilla. His stake has decreased from the previous 7.5% (approximately 11.59 million shares) to 0%.
Peter Thiel was once a major backer and large shareholder of ETHZilla. The news of Thiel's investment once caused ETHZ's stock price to surge several times. This event was also seen as one of the positive signals for Thiel's confidence in the Ethereum ecosystem.
However, as the crypto market continued to weaken, ETHZilla announced plans to sell tokens to pay off debts, sell tokens to purchase aerospace engines for leasing business, and has explicitly stated that it will no longer focus on the treasury model of accumulating ETH as its main business.