Latest news with #AndrewKeys
Crypto Insight
21 hours ago
- Business
- Crypto Insight
Ether Machine to launch $1.5B institutional ETH yield fund
A team of crypto-native researchers and public market experts is preparing to launch what it calls the largest yield-bearing Ether fund targeting institutional investors. The company, called Ether Machine, plans to create a publicly traded vehicle offering institutional-grade exposure to Ethereum infrastructure and Ether yield, it announced on Monday. It is co-founded by Andrew Keys, a former board member and head of global business development at Consensys, and David Merin, a former corporate development executive at Consensys who now serves as Ether Machine's CEO. Ether Machine aims to 'expand Ethereum's economic security as the base layer for the next era of global finance and computation,' according to its website. The company will be formed through a combination of The Ether Reserve and Dynamix Corp, a Nasdaq-listed special purpose acquisition company. Following this, Ether Machine plans to list on the Nasdaq under the ticker symbol 'ETHM,' with over 400,000 ETH worth more than $1.5 billion under management at launch. Yield focus and Ethereum-native strategy Ether Machine said it aims to hold 'one of the largest onchain ETH positions' of any public company, generating ETH-denominated returns through staking, restaking and managed participation in decentralized finance (DeFi) protocols. The company said it will also offer 'turnkey infrastructure solutions' for enterprises, DAOs and Ethereum-native builders on the blockchain. Cointelegraph has reached out to Ether Machine for more details on the size and scope of the fund's ETH position. The announcement comes amid a growing roster of companies adopting Bitcoin and cryptocurrency treasuries, aiming to bolster shareholder value and attract more investors. On June 19, Nasdaq-listed Lion Group announced a $600 million Hyperliquid token treasury reserve, which debuted with a $10.6 million initial investment. On June 11, Interactive Strength, a Nasdaq-listed fitness equipment manufacturer, announced a $500 million raise to acquire tokens and establish the world's largest corporate AI token treasury, according to the firm. Source:
Yahoo
a day ago
- Business
- Yahoo
Ether Machine, backed by crypto giants, set to raise over $1.6 billion in Nasdaq debut
By Ateev Bhandari (Reuters) -The Ether Reserve, a new crypto venture backed by prominent crypto investors, will list on the Nasdaq through a merger with blank-check firm Dynamix Corporation and is expected to raise over $1.6 billion. The combined entity, to be named The Ether Machine, aims to launch with more than 400,000 Ether on its balance sheet, positioning it as the largest public vehicle for institutional exposure to the world's second-largest cryptocurrency. Shares of Dynamix rose nearly 28% in early trading. The deal highlights rising institutional interest in holding crypto on corporate balance sheets, with several projects announcing plans in recent months to publicly list their shares while aiming to wrap crypto assets into equity to attract traditional investors. While most corporate interest has focused on Bitcoin, Ether has surged in recent weeks, hitting a six-month high on Friday. Ether stands out for its yield-generating capability and its use in digitizing real-world assets, according to Andrew Keys, who will serve as Ether Machine's chairman. Ether holders earn returns via staking, a process that supports the operation and security of the Ethereum network. 'Bitcoin doesn't have yield and Ether does,' Keys, who previously worked with Ethereum co-founder Joseph Lubin, told Reuters in an interview. Investors in the blank-check deal, including Kraken, and Pantera Capital, are contributing more than $800 million through an upsized common stock offering. ECOSYSTEM DOMINANCE Ethereum is growing in a way that is reminiscent of how Google dominated internet search, Keys said, adding that 90% of stablecoins and other real-world tokenizations are settled on the platform. The blockchain supporting Ether can have "infinite assets created on top of it and we can have infinite functionality through smart contract usage," he added. Smart contracts are self-executing digital agreements on blockchains, eliminating intermediaries. Ether has also benefited from increased regulatory clarity around U.S. dollar-pegged stablecoins. "The largest beneficiary of the Genius Act is Ethereum because the majority of stablecoins reside on top of Ethereum," Keys said. The company will trade on the Nasdaq under the symbol "ETHM" upon deal close, which is expected in the fourth quarter of 2025.
Bloomberg
a day ago
- Business
- Bloomberg
'The Ether Machine' to Go Public with $1.5B Listing
The Ether Machine is set to go public and give investors access to crypto via the public market. The Ether Machine Chairman Andrew Keys speaks with Caroline Hyde on 'Bloomberg Tech'. (Source: Bloomberg)
Yahoo
2 days ago
- Business
- Yahoo
Ether Machine to List on Nasdaq Via SPAC With $1.5B Backing
A new ether investment vehicle is set to debut on the Nasdaq with an expected 400,000 ETH ($1.53 billion) on its balance sheet. The Ether Reserve will list on the Nasdaq via a merger with special purpose acquisition company (SPAC) Dynamix Corporation (DYNX). The combined entity will be named The Ether Machine and trade under the ticker ETHM, according to an announcement on Monday. DYNX shares jumped over 30% to trade at around $13.40 in pre-market trading on Monday. The Ether Machine is positioned as a public vehicle for exposure to Ether and ETH-denominated yield through seeking returns from staking, restaking and decentralized finance (DeFi). It is backed by around $645 million worth of ETH from Andrew Keys, a former executive at Ethereum infrastructure builder Consensys, who will serve as chairman of Ether Machine. The company also has over $800 million in financing from a range of high-profile backers, such as 1RoundTablepartners, Pantera Capital, Kraken and The listing couldn't come at a much better time for ether bulls, as the world's second-largest cryptocurrency climbed as much as 25% last week to break above $3,800 for the first time in 2025. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
2 days ago
- Business
- CNBC
This crypto treasury firm is vying to be the MicroStrategy of ether–but with a focus on generating yield
The latest crypto treasury company is set to hit the public market with an ambitious plan to build the largest public vehicle for institutional exposure to ether. The Ether Machine will begin trading on the Nasdaq Monday under the ticker ETHM, once a merger with blank check company Dynamix Corporation is complete. Andrew Keys, the co-founder and chairman of the new company, has committed about $645 million in an anchor investment. The entity is backed by crypto investors 10T Holdings, Electric Capital, Pantera Capital and more. The company is the latest in an emerging cohort of new entities vying to become the MicroStrategy of Ethereum by replicating the bitcoin proxy's successful accumulation strategy, but around ether, the second largest cryptocurrency by market cap, rather than bitcoin. Keys' company plans to differentiate with a focus on yield generation through "staking" rather than simply buying and holding the ether. Staking is a mechanism for generating yield by contributing to network operations around security and transaction processing. By purchasing ether from a crypto exchange or buying shares of an ether ETF, investors would get exposure to the coin's price, "but without access to the dividend," Keys explained. "Ether produces yield if it's properly managed," he told CNBC's "Squawk Box" Monday. "The ETFs right now don't generate yield because they don't enable staking … we're able to enable staking and we're able to do other additional risk management on top of that." On Thursday, BlackRock filed with the SEC to include staking to its popular ETHA ether ETF, which just logged a record week of inflows. The ability to stake makes ether a "more productive" asset than bitcoin, according to Keys. The Bitcoin network "has one asset on it, bitcoin, that can be moved from peer to peer, but Ethereum can tokenize any asset," Keys said. It's "able to embed any type of digital asset – a bar of gold, a barrel of oil, a stock, a bond, a derivative – into digital legal agreements, and in doing so, you're able to expedite the velocity of money. You can have employment contracts that get paid by the minute, as an example." Shares of Dynamix jumped 30% in premarket trading. The Ether Machine follows Bitmine Immersion Technologies – the company newly chaired by Fundstrat's Tom Lee and more recently backed by Peter Thiel – in its ether treasury ambitions. Pantera was also a backer of Bitmine. Also this year, SharpLink Gaming, whose board is chaired by Ethereum co-founder Joe Lubin, also initiated an ETH treasury strategy; and Bit Digital recently exited bitcoin mining to focus on its ETH treasury and staking plans. Ether has taken the spotlight in crypto from bitcoin in recent months as investors anticipated the stablecoin bill known as the GENIUS Act would be signed into the first major U.S. crypto law, which President Trump did Friday. The regulatory clarity should benefit institutions and brands becoming more interested in tokenization, which includes stablecoins, most of which are issued on the Ethereum network. Ether has doubled in the last three months and last week, ether ETFs posted a record $2.18 billion in weekly inflows.
