Peter Thiel has completely exited his stake in the Ethereum treasury company ETHZilla by the end of 2025

According to the SEC's 13G filing, as of December 31, 2025, Peter Thiel has completely exited his stake in the Ethereum treasury company ETHZilla, reducing his holdings from 7.5% (approximately 11.59 million shares) to 0%.

Peter Thiel was once an important backer and major shareholder of ETHZilla. The news of Thiel's investment caused ETHZ's stock price to surge several times, and this event was seen as one of the signals of Thiel's optimism towards the Ethereum ecosystem.

However, as the cryptocurrency market continued to weaken, ETHZilla announced successively that it would sell coins to pay off debts and sell coins to purchase aerospace engines for its leasing business, and it has clearly stated that it will no longer use the treasury model of accumulating ETH as its main business.