ETHZilla Corporation CEO McAndrew Rudisill says Ethereum's role in the nearly trillion-dollar global remittance market drove his decision to pivot the company entirely to Ethereum. The firm now ranks as the eighth-largest public Ethereum treasury worldwide.
Rudisill told reporters that Ethereum functions as a gateway for global money supply transmission in U.S. dollars. The CEO highlighted real-world asset applications and store of value functions as key growth drivers for the network.
The company rebranded from Life Sciences Corp in July, shortly after President Donald Trump signed the GENIUS Act into law. The legislation aims to establish regulatory frameworks for stablecoins in the United States.
ETHZilla currently holds over 102,000 Ethereum tokens. The firm plans to deploy holdings across layer-2 protocols to generate substantially higher yields than traditional staking methods.
Rudisill stated the company wants to acquire as much Ethereum as possible without setting specific numerical targets. The strategy involves using cash from holdings to buy more tokens while helping build out the layer-2 network infrastructure.
BitMine Immersion Technologies leads all Ethereum treasury companies with 2.65 million tokens worth over $11 billion. The firm has set a goal of holding 5% of the total token supply.
Ethereum currently trades at around $4,474 and has moved between $3,890 and $4,493 over the past week. Rudisill predicts $20,000 per token isn’t unreasonable within the next few years as the price breaks from its consolidation pattern.
The GENIUS Act awaits final regulations before implementation. However, $160 billion in stablecoin transactions already occur on the Ethereum network, compared to $76 billion on Tron, the second-largest network.
Ether treasury companies collectively hold 5.5 million Ethereum, approximately 4.54% of total supply. Founded in 2016 as a biotechnology firm, Life Sciences went public in 2020 but saw its stock plunge 99% over five years before the crypto pivot.