Forum pivots to RWA after rebrand, targets home loans

ETHZilla rebrands to Forum, shifting focus to RWA tokenization

ETHZilla has been renamed Forum and is transitioning its strategy to real‑world asset (RWA) tokenization, according to PR Newswire. The move signals a shift from a balance‑sheet ETH strategy toward building on‑chain, institutionally oriented products backed by cash‑flowing assets.

Forum describes its platform as designed to aggregate, structure, and tokenize high‑quality, income‑generating assets historically accessed by institutional investors. The rebrand aligns the company’s identity with an execution focus on compliant, transparent markets leveraging Ethereum infrastructure.

Why it matters: from ETH treasury (DAT) to cash-flow assets

Forum’s pivot reframes value from an ETH digital asset treasury (DAT) model to income derived from securitized, on‑chain RWAs. FXStreet reported the firm removed its mNAV dashboard and executed a large ETH sale to redeem debt, underscoring a turn from mark‑to‑market ETH exposure toward operating cash flows.

Leadership has framed the evolution as using Ethereum’s rails to deliver regulated, transparent financial products rather than passively holding ETH. “Forum represents who we are today, and where we are going … the next generation of financial markets will be built around institutional‑grade, on‑chain products backed by real assets, governed by transparency, and delivered through regulated infrastructure,” said McAndrew Rudisill, CEO of Forum.

As reported by The Block, shares climbed more than 13% to around $3.91 as the company formalized the Forum rebrand. at the time of this writing, that level was described as a near one‑month high in coverage of the move.

Forum entered definitive agreements with Zippy to tokenize manufactured home loans and took a 15% stake, according to company disclosures. The same disclosures indicate ETH holdings have shrunk following multiple sales, including $40 million in October and $74.5 million in December.

Execution roadmap, risks, and milestones for Forum’s RWA strategy

From DAT to RWA: tokenized home loans and manufactured housing

Forum’s initial focus centers on tokenized home loans and manufactured housing exposure, aiming to package borrower cash flows into on‑chain, securitized instruments. The partnership with Zippy is intended to support institutional‑grade origination, servicing, and data pipelines for compliant distribution.

Sustained execution will likely require standardized asset data, robust servicing oversight, and alignment with institutional risk, KYC/AML, and reporting norms. Performance, not ETH price, may increasingly drive valuation sensitivity if the RWA pipeline scales.

Signals to watch: Founders Fund exit, mNAV removal, ETH sales

Cointelegraph reported that Founders Fund fully exited its stake by December 2025, a signal of waning appetite for pure ETH treasury exposure. The earlier mNAV removal and ETH sales also reset the narrative from treasury accumulation toward cash‑flow underwriting and securitization.

Key milestones include asset‑level performance data, issuance cadence, and depth of institutional distribution. Transparency around collateral, servicing, and on‑chain reporting will be central to investor confidence.

FAQ about ETHZilla rebrand to Forum

Why is Forum moving away from an ETH digital asset treasury (DAT) model toward real-world asset (RWA) tokenization?

To shift from passive ETH exposure toward institutional, income‑generating RWAs delivered on Ethereum with greater transparency and compliance.

How will Forum’s tokenized home loans and manufactured housing strategy generate yield, and what risks are involved?

Yield could come from borrower payments on tokenized loans; risks include credit performance, servicing quality, structuring, liquidity, and regulatory execution.