The listed company ETHZilla has invested 100 million USD in liquidity re-staking, and institutional DeFi adoption has entered a new phase: ETH is expected to challenge 6000 USD.

NASDAQ-listed company ETHZilla (backed by well-known investors such as Peter Thiel) announced on September 2, 2025, that it will invest 100 million USD from its Ethereum reserves into the liquidity staking protocol EtherFi, aiming to enhance asset returns and strengthen the security of the Ethereum network. This is the company's first direct integration of DeFi infrastructure since its transformation from biotechnology to digital assets in July this year. Currently, ETHZilla holds 102,246 ETH (worth approximately 456 million USD) and has increased its holdings by over 20,000 ETH at an average price of 3,949 USD in August. This move reflects institutional confidence in the staking yield strategy and the long-term prospects of the Ethereum ecosystem.

ETHZilla Strategic Transformation and Capital Deployment

ETHZilla, formerly known as 180 Life Sciences Corp., changed its name at the end of July and fully transitioned into the digital asset field, using Ethereum as its core treasury reserve. The company has the support of over 60 institutions and native crypto investors, having previously announced a $425 million financing through a private investment in public equity (PIPE), and may issue $150 million in debt securities, all of which will be used to increase its holdings of ETH, treasury operations, and transaction costs. This investment in EtherFi is part of its collaboration with Electric Capital to manage an on-chain yield program, with an overall strategy combining lending, liquidity provision, and structured protocols to pursue a balance of yield and risk control.

The Rise of Liquidity Re-staking Market, EtherFi Becomes the Preferred Choice for Institutions

EtherFi, as a leading liquidity re-staking protocol, allows users to re-stake their already staked ETH into other secure layers and services to earn additional yields. Its TVL currently ranks first across the entire field, ahead of competitors like Eigenpie. ETHZilla's Executive Chairman McAndrew Rudisill referred to this collaboration as a "strategic evolution in treasury management," while EtherFi founder Mike Silagadze believes this marks a "key step in the integration of traditional finance and the Ethereum ecosystem." The total locked amount in the re-staking sector has exceeded $30 billion, with a large number of validators shifting from native staking to higher-yield re-staking solutions.

Enterprises' Ethereum Holdings Continue to Expand, Stablecoin Inflows Accelerate

The demand for Ethereum from institutions has not weakened. SER data shows that BitMine, led by Tom Lee, holds 1.8 million ETH, while SharpLink, supported by Joe Lubin, ranks second with 837,000 ETH (and increased its holdings by 39,000 at an average price of $4,531 at the end of August). Meanwhile, the reserve of stablecoins on the Ethereum chain grew by 13% in August, totaling nearly $150 billion, with a cumulative growth of 32.4% this year. Since July 16, there has been an influx of $25 billion in stablecoins into the Ethereum ecosystem, far surpassing the previous half-year level of $14 billion, indicating that funds are still actively positioning themselves.

Ethereum Price Analysis: Short-term Under Pressure, Long-term Still Bullish

Despite the strong on-chain fundamentals, Ethereum shows signs of weakness in the short-term technicals. The daily chart indicates that the price has fallen below the ascending channel formed at the end of June, potentially testing the $4000 support area. The RSI shows a bearish divergence, indicating a weakening upward momentum. If $4000 is breached, it could further retrace to the 200-day exponential moving average in the $3100–3200 range.

However, the macro environment remains favorable: Federal Reserve Chairman Powell confirmed an imminent interest rate cut, with the market expecting it to happen in September, which is beneficial for risk assets; Ethereum ETFs have seen net inflows for several consecutive days, with management scale reaching a historic high; the Pectra upgrade enhances network processing capabilities and introduces a token burning mechanism. Analysts are optimistic about Ethereum breaking through 5000 USD in the medium to long term, and even moving towards 6000 USD.

Conclusion

The large-scale re-staking investment of ETHZilla highlights that institutions are actively seeking new ways to appreciate on-chain assets, promoting further integration of DeFi and traditional finance. Despite Ethereum facing technical adjustment pressure in the short term, inflows of stablecoins, ETF fund expansion, and favorable macro policies all support its long-term value curve trending upwards. Investors should pay attention to the key support level at 4000 USD and whether the September FOM meeting will become a catalyst for a new round of upward movement.