PANews reported on October 16th that, according to The Block, Ethereum finance company ETHZilla Corporation (ticker symbol ETHZ) announced a 1:10 reverse stock split, reducing the number of outstanding shares, expected to take effect on October 20th. The move is intended to push ETHZ's Nasdaq-listed share price above $10 to attract large mutual funds with "minimum share price thresholds." That day, ETHZ's share price fell over 7%, trading at approximately $1.77. In a Wednesday announcement, the company stated that the split is part of expanding institutional investor participation, providing investors and large financial institutions with access to collateral and margin availability at a share price above $10, independent of exchange listing requirements.

The split was approved by a special shareholders meeting on July 24. The company, formerly 180 Life Sciences Corp., changed its name to ETHZilla in August after receiving backing from Peter Thiel's Founders Fund.