BlackRock and Fidelity are placing major bets on Ethereum to power tokenized real-world assets, as the network tops $200 billion in value locked. Institutional adoption is renewing bullish ETH price forecasts and could presage a sizable market move.

ETHZilla Corporation sold $40 million of its Ethereum treasury holdings to finance a stock buyback program aimed at reducing its NAV discount and enhancing shareholder value. The company repurchased around 600,000 shares so far and plans additional buybacks. Despite holding $400 million in ETH, ETHZilla is also investing $15 million in DeFi and asset tokenization strategies.