SEC filing indicates Peter Thiel fully exited ETHZilla (ETHZ)
Peter Thiel has fully exited Ethereum treasury firm ETHZilla (ETHZ), as reported by Bloomberg, citing a U.S. Securities and Exchange Commission filing dated Feb. 18, 2026. The disclosure indicates his entire equity stake was sold.
Public records in 2025 showed a 7.5% holding linked to Thiel or affiliates; the latest filing lists zero shares. That establishes a clear ownership change from material shareholder to none.
The filing confirms holdings but does not provide rationale, timing detail, or commentary. No statements from Thiel, Founders Fund, or ETHZilla are included in the document.
Immediate market impact and implications for ETHZilla and investors
Initial trading reaction skewed negative after the disclosure. "ETHZ shares dropped about 3% after-hours," said GuruFocus.
Large-holder exits can pressure liquidity and sentiment, especially for a treasury-focused crypto company. Any implications for treasury policy, governance, or capital planning will depend on forthcoming company disclosures.
At the time of this writing, Ethereum traded near $2,003.14 alongside very high estimated volatility around 18.44% and an RSI near 35.64. Equity performance for ETHZilla does not mechanically track ETH’s price.
Timeline, market reaction, and unanswered questions
From 7.5% stake in 2025 to zero shares filing
A 2025 disclosure indicated a roughly 7.5% position tied to Thiel or affiliated entities. The latest regulatory filing lists zero shares, confirming a full exit.
That progression provides a clear stake-reduction timeline ending in no holdings.
Stock reaction, statements pending, and institutional crypto context
After-hours weakness near 3% aligns with typical liquidity responses when a prominent holder exits. Day-two trading will hinge on volume and any company clarification.
The filing itself carries no management commentary, and no separate statements were referenced. Absent issuer guidance, investors typically look to subsequent company filings or scheduled earnings calls for clarity.
Founders Fund has actively managed crypto exposure over multiple cycles, selling around $1.8 billion of holdings before the 2022 downturn, as reported by Fortune. It also committed roughly $200 million to bitcoin and ether in 2024, according to The Wall Street Journal.
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