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A group of crypto-savvy researchers and public market professionals is gearing up to unveil what it describes as the largest yield-generating Ether fund aimed at institutional investors.
The firm, named Ether Machine, intends to establish a publicly listed vehicle providing institutional-quality exposure to Ethereum infrastructure and Ether (ETH) yields, it disclosed on Monday.
Andrew Keys, a previous board member and head of global business growth at ConsenSys, co-founded the company alongside David Merin, a former corporate development executive at ConsenSys who now occupies the role of CEO at Ether Machine.
Ether Machine aspires to “enhance Ethereum’s economic security as the foundational layer for the forthcoming era of global finance and computation,” as stated on its website.
The organization will be established through an upcoming merger between The Ether Reserve and Dynamix Corp, a special purpose acquisition company listed on Nasdaq.
Post-merger, Ether Machine plans to be listed on the Nasdaq under the ticker “ETHM,” managing over 400,000 ETH valued at more than $1.5 billion upon launch.
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Focus on yield and Ethereum-centered strategy
Ether Machine mentioned it aims to possess “one of the largest on-chain ETH holdings” of any public entity, producing ETH-denominated returns through staking, restaking, and supervised engagement in decentralized finance (DeFi) protocols.
The firm said it will also provide “comprehensive infrastructure solutions” for enterprises, DAOs, and Ethereum-focused developers operating on the blockchain.
Cointelegraph has reached out to Ether Machine for further information regarding the magnitude and extent of the fund’s ETH holdings.
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The announcement surfaces amid an increasing number of companies adopting Bitcoin (BTC) and cryptocurrency reserves, aiming to enhance shareholder value and draw in more investors.
On June 19, Lion Group, listed on Nasdaq, revealed a $600 million Hyperliquid (HYPE) token reserve, initiated with a $10.6 million initial investment.
On June 11, Interactive Strength, a fitness equipment manufacturer listed on Nasdaq, announced a $500 million fundraising to acquire Fetch.ai (FET) tokens and create the largest corporate AI token treasury globally, as per the firm.
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