ETHZilla to Raise $350M via Convertible Bonds for ETH Buys, L2 and RWA Investments

As part of its effort to broaden its Ethereum strategy, ETH treasury company ETHZilla is preparing to raise $350 million using convertible bonds. Out of the money raised, a significant amount of the money will be used to purchase further ETH. The move will likely solidify the company’s standing as one of the largest corporate owners of the asset. Further, the firm also intends to fund real-world asset (RWA) tokenisation initiatives on the Ethereum network as well as Layer 2 scaling solutions. In addition to increasing its treasury, the goal is to generate consistent financial flows and encourage ecosystem innovation. The move comes amid a rise in institutional trust in Ethereum as a decentralised finance platform and a store of value.