Peter Thiel and entities related to Founders Fund have utterly exited ETHZilla, a publicly traded Ethereum treasury buying and selling enterprise that after marketed itself as a proxy guess on company ETH accumulation. Schedule 13G/A filed on Tuesday exhibits the reporting group ended 2025 with no frequent inventory remaining, clearing out positions that have been notable in each the crypto and small-cap worlds.
Teal Exists Ethereum Treasury Play
The amended return, dated February 17, 2026, is unusually candid about its present footprint: “Complete quantity…0.00. Class share…0.0%. Class possession lower than 5 p.c.” The place is reported as of December 31, 2025, which means the withdrawal will probably be accomplished by the tip of the 12 months.
Peter Thiel leaves Ethereum on date “ETHZILLA” $ETHZ Tokenized Jet Engine Focus: Submitting pic.twitter.com/nnMeT32LQ4
— AggrNews (@AggrNews) February 18, 2026
This zeroed-out merchandise is in sharp distinction to what Teal Associated Autos disclosed only a quarter in the past. On the earlier Schedule 13G/A, which studies holdings as of September 30, 2025, Teal was listed with 928,389 shares beneficially owned, representing 5.6% of the category on the time, with a further block vested in Founders Fund entities. The submitting states that the corporate carried out a ten:1 reverse inventory cut up on October 20, 2025, and the variety of reported shares was adjusted accordingly.
The ETHZilla story is necessary as a result of it sought to remodel the Bitcoin monetary template into an ETH-native wrapper at a time when public market devices have been being touted as a liquid and leverageable gateway to digital asset publicity. Thiel’s preliminary involvement, which was broadly reported as a 7.5% stake that went public in August 2025, helped legitimize the pitch, not less than briefly.
Extra not too long ago, ETHZilla has signaled a shift from a pure ETH monetary id to tokenized real-world property, together with aviation. In an 8-Okay related to the Feb. 12 press launch, the corporate mentioned its subsidiary had launched “Eurus Aero Token I,” which it described as a “tokenized real-world asset product” that gives publicity to plane engines in lease contracts “via tradable digital tokens representing contractual income rights.”
This flip of occasions leaves merchants with uncomfortable unanswered questions. Did Founders Fund’s exit precede (and implicitly be on the forefront of) a strategic shift, or was it merely a portfolio cleanup after the preliminary “ETH treasury” story cooled down?
At X, one commentator framed Mr. Thiel’s timing as a part of a broader sample, though a number of the publish’s claims transcend what the SEC submitting says. The account @treebook78 known as Mr. Thiel a “grasp of disaster detection,” wrote that he “prevented this sharp decline,” and claimed that he’s a “grasp of exits” who can get out early when bubbles and stress rise.
“Again in 2022, he posted a diamond hand on social media telling folks to carry Bitcoin without end, however then he quietly bought every thing and prevented the Luna crash and FTX collapse (from what I keep in mind),” @treebook78 wrote.
On the time of writing, Ethereum was buying and selling at $1,984.
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