Peter Thiel, PayPal co-founder and billionaire tech investor, has acquired 7.5% ownership of Ethereum-focused digital asset treasury (DAT) firm 180 Life Sciences Corp. Following the announcement, shares in the company jumped over 90% in early trading on Tuesday. At press time, 180 Life Sciences Corp (ATNF) is trading at $9.490, up 182%.

Life Sciences, which is rebranding as ETHZilla, now holds almost $350 million in Ethereum, the second-biggest cryptocurrency.

Hoping to follow the blockbuster initial public offerings of peer crypto companies Circle (CRCL) and eToro (TORO), Peter Thiel-backed Bullish is set to make its debut and could start trading as soon as today,