Ethereum treasury firm ETHZilla has purchased two jet engines after selling some of its crypto holdings and increasing its focus on asset tokenization.
ETHZilla stated in a regulatory filing filing on Friday purchased two aircraft engines for $12.2 million in cash through its newly formed subsidiary ETHZilla Aerospace LLC.
The engines used in vast commercial aircraft were supplied with existing leasing arrangements with major airlines, allowing the company to start making money from them.
The purchase comes from ETHZilla President and CEO McAndrew Rudisill he said in December that it aims to “build a working company to bring real world assets (RWA) to the chain through tokenization,” moving away from just buying and holding Ether (ETH).
Today we are launching our updated website to better reflect our mission – modernizing capital markets through tokenization of real-world assetshttps://t.co/QvGkqgccDg pic.twitter.com/DuXJgWoFAR
— ETHZilla (@ETHZilla_ETHZ) January 21, 2026
Rudisill said in December that ETHZilla “will initially focus on aerospace assets such as aircraft engines and airframes for tokenization.”
“Members of our leadership team and board of directors have deep relationships in the aviation industry, which we leverage to build an initial asset pipeline for tokenization without the need for additional partnerships,” he added.
Related: EthZilla liquidates $74.5 million in Ether to repay convertible debt
ETHZilla shares are down 95% from their peak
The company is among several cryptocurrency treasuries that saw their stock prices rise in 2025 and then decline as cryptocurrency markets began to plummet later in the year.
ETHZilla (ETHZ) shares rose to a high of over $100 in August, but have since fallen 95% to close at $5.24 on Friday. According to to Google Finance.
Ether prices are also falling, with its symbol down 40% from an August high of almost $5,000 and hitting $2,800 on Sunday. EthZilla holds 69,802 ETH worth $198.5 million, According to this CoinGecko.
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