What Does Peter Thiel's Exit Signal for ETHZilla

Key Takeaways

• Peter Thiel's complete divestment from ETHZilla signals a significant cooling of institutional sentiment towards pure-play crypto treasury strategies.
• ETHZilla is undergoing a radical transformation, shifting from an Ethereum-centric treasury model to a real-world asset (RWA) tokenization business.
• The company faces immense financial pressure, marked by substantial net losses and a stock price deeply correlated to Ethereum's volatility, despite recent RWA acquisitions.