Forum Markets is rebranding from ETHZilla to Forum Markets, with the Nasdaq ticker FRMM expected to begin trading on March 2, signaling a shift from crypto exposure to tokenized real-world assets.

Under the new identity, the focus will be on aggregating and structuring real-world assets for tokenization rather than using Ethereum price exposure as a leveraged play.

ETHZilla previously held about 69,802 ETH valued around $143.7 million at a price of roughly $2,060 per ETH, marking it as a significant corporate holder of Ether.

This ETH stake positioned the company as one of the larger corporate holders of Ether, contributing to the prior strategy tied to Ethereum's price movements.

The rebrand aligns with a broader industry trend of public crypto-linked companies moving toward steadier, income-based business models rather than sole crypto-token holdings.

Forum Markets’ new strategy centers on tokenized income-generating assets and real-world asset products as its next growth phase, moving away from heavy crypto treasury accumulation.

The company plans to shift away from large Ethereum reserves toward building tokenized assets and income-backed investment products.

In its move toward real-world assets, Forum Markets has acquired aviation assets, including two jet engines leased to a major US airline, and launched Eurus Aero Token I, offering fractional exposure to lease-generated cash flows on Ethereum.

The Eurus Aero Token I represents the company’s pivot to tokenized income-producing assets and diversification of cash flows beyond crypto price dependence.

Investors welcomed the strategic shift, with Forum Markets' shares rising over 13% to around $3.91 after the news, though the stock remains down for the year amid crypto market volatility.

The transition comes after a volatile period of crypto-treasury strategy, including initial interest in reserves, a downturn, reductions in crypto exposure, and efforts to align stock price with net asset value.