Unconfirmed reports suggest ETHZilla is planning a $10 billion stock offering to acquire Ethereum, but no official confirmations exist. The company has reportedly raised $425 million through private placement before, positioning it among the top five largest ETH holders. While a confirmed $10 billion offering would significantly impact market dynamics and potentially drive price fluctuations, this claim remains unverified as of August 23, 2025. ETHZilla’s financial maneuvers have been substantial, leading to its ranking amongst the top ETH holders. The market remains uncertain about the legitimacy of the $10 billion offering. However, the company’s recent moves align with established strategies used by institutions like MicroStrategy in acquiring Bitcoin, and further confirmation is awaited. Official filings are currently absent, though financial implications from their previous $425 million raise remain significant. On-chain data remains crucial for understanding the evolving dynamics of ETHZilla’s strategy.