Ether Machine to launch $1.5B institutional ETH yield fund

5 hours ago

A squad of crypto-native researchers and nationalist marketplace experts is preparing to motorboat what it calls the largest yield-bearing Ether money targeting organization investors.

The company, called Ether Machine, plans to make a publically traded conveyance offering institutional-grade vulnerability to Ethereum infrastructure and Ether (ETH) yield, it announced connected Monday.

It was co-founded by Andrew Keys, a erstwhile committee subordinate and caput of planetary concern improvement astatine ConsenSys, and David Merin, a erstwhile firm improvement enforcement astatine Consensys who present serves arsenic Ether Machine’s CEO.

Ether Machine aims to “expand Ethereum’s economical information arsenic the basal furniture for the adjacent epoch of planetary concern and computation,” according to its website.

The institution volition beryllium formed done an incoming operation betwixt The Ether Reserve and Dynamix Corp, a Nasdaq-listed peculiar intent acquisition company.

Following the concern combination, Ether Machine plans to database connected the Nasdaq nether the ticker awesome “ETHM,” with implicit 400,000 ETH, worthy much than $1.5 billion, nether absorption astatine launch.

Yield absorption and Ethereum-native strategy

Ether Machine said it aims to clasp “one of the largest on-chain ETH positions” of immoderate nationalist company, generating ETH-denominated returns done staking, restaking and managed information successful decentralized concern (DeFi) protocols.

The institution said it volition besides connection “turnkey infrastructure solutions” for enterprises, DAOs and Ethereum-native builders gathering connected the blockchain.

Cointelegraph has reached retired to Ether Machine for much details connected the size and scope of the fund’s ETH position.

The announcement comes amid a increasing roster of companies adopting Bitcoin (BTC) and cryptocurrency treasuries, aiming to bolster shareholder worth and pull much investors.

On June 19, Nasdaq-listed Lion Group announced a $600 cardinal Hyperliquid (HYPE) token treasury reserve, which debuted with a $10.6 cardinal archetypal investment.

On June 11, Interactive Strength, a Nasdaq-listed fittingness instrumentality manufacturer, announced a $500 cardinal raise to get Fetch.ai (FET) tokens and found the world’s largest firm AI token treasury, according to the firm.