Peter Thiel and his Founders Fund have completely exited their position in ETHZilla Corporation (NASDAQ:ETHZ), according to an amended Schedule 13G filed Tuesday with the U.S. Securities and Exchange Commission.
The filing, signed by Thiel on Tuesday, shows all reporting entities associated with the Founders Fund now hold 0.0% of ETHZ common stock as of Dec. 31.
A Full Exit Across All Entities
The SEC filing lists six reporting persons linked to the exit: FF Consumer Growth II, LP; The Founders Fund Growth II Management, LP; FF Upper Tier GP, LLC; FF Consumer Growth, LLC; The Founders Fund Growth Management, LLC; and Thiel individually. Each entity reported zero shares in sole voting power, shared voting power, sole dispositive power, and shared dispositive power.
From 7.5% to Zero: The Exit Trail
In earlier filing on Aug. 11, Thiel individually held 11,592,241 shares, representing 7.5% of the class. The complete wind-down to zero by year-end marks a departure from the Ethereum (CRYPTO: ETH) treasury firm.
Short Interest Adds Pressure
Short interest in ETHZ rose during the most recent reporting period, climbing from 2.71 million to 2.85 million shares. That figure represents 15.08% of the company’s publicly available float.
Based on an average daily trading volume of approximately 505,260 shares, it would take an estimated 5.64 days for short sellers to cover their positions without materially moving the stock price.
Price Action
Ethereum, the underlying asset central to ETHZilla’s business model, was trading at $1,981.69 at last check, up 1.40% over the past hour and 0.61% over 24 hours, with a seven-day gain of 1.61%.
ETHZ Price Action: ETHZilla shares were down 0.85% at $3.48 at the time of publication on Wednesday. The stock is trading near its 52-week low of $2.99, according to Benzinga Pro data.
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