The Ethereum treasury company ETHZilla has purchased two jet engines after selling off some of its crypto stash and increasing its focus on asset tokenization.
ETHZilla said in a regulatory filing on Friday that it purchased two aircraft engines through a newly formed subsidiary, ETHZilla Aerospace LLC, for $12.2 million in cash.
The engines, which are used in large commercial planes, came with existing lease agreements with a major airline, enabling the firm to begin earning yields from them.
The purchase comes after ETHZilla chairman and CEO McAndrew Rudisill said in December that it aims to “build an operating business to bring real-world assets (RWA) on-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 real-world asset tokenizationhttps://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 to tokenize.”
“Members of our leadership team and board have deep relationships in the aerospace industry, which we are leveraging to build an initial pipeline of assets to tokenize without the need for additional partnerships,” he added.
Related: EthZilla liquidates $74.5M in Ether to redeem convertible debt
ETHZilla stock slides 95% from peak
The company is among several crypto treasury companies that saw their share prices surge in 2025, only to slump as crypto markets started heavily retreating later in the year.
Shares in ETHZilla (ETHZ) jumped to a peak of over $100 in August, but have since fallen 95% to trade at $5.24 at the close of market on Friday, according to Google Finance.
Ether prices have also been falling, with the token 40% down from its August high of nearly $5,000 to trade at $2,800 on Sunday. EthZilla holds 69,802 ETH worth $198.5 million, according to CoinGecko.
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