ETHZilla (ETHZ), an Ethereum-focused digital asset treasury firm, is pushing deeper into tokenization, acquiring a $4.7 million portfolio of manufactured and modular home loans.

The company plans to tokenize the 95-loan portfolio on an Ethereum layer-2 network, aiming to turn the loans into cash-flow-generating digital tokens available via Liquidity.io, a regulated broker-dealer and trading system, according to an announcement shared with CoinDesk on Thursday.

The loans, secured by first-lien mortgages, are expected to yield around 10% annually, according to the firm.

"This transaction represents a natural extension of the tokenization strategy we’ve been building," said McAndrew Rudisill, chairman and CEO of ETHZilla.

"Manufactured housing loans offer predictable cash flows and strong underlying collateral, which we believe makes them well-suited for tokenization within a regulated, transparent structure."

ETHZilla’s shift toward tokenization comes after a sharp downturn in its core crypto holdings. Its stock has plummeted roughly more than 90% from a spike to $107 in August 2025, and it sold over $110 million in ETH last year to fund buybacks and debt repayments.

The company outlined plans to build a regulated framework for tokenizing everything from aircraft engines to auto loans, in a December letter to shareholders. The newly purchased home loan portfolio comes on the heels on ETHZilla’s earlier investment in Zippy, a manufactured home lender, and follows a similar acquisition of two jet engines the company also intends to tokenize.