The Ether Machine to List on Nasdaq With $1.53B in ETH Holdings
A new Ethereum-centric investment company, The Ether Machine, will go public on the Nasdaq through a merger with Dynamix Corporation (DYNX), a SPAC, according to a Monday announcement.
The deal positions the newly formed entity with approximately 400,000 ETH on its balance sheet, worth around $1.53 billion at current market prices.
Andrew Keys, former ConsenSys executive and now chairman of The Ether Machine, contributed $645 million worth of ETH. An additional $800 million in backing comes from notable firms including Pantera Capital, Kraken, Blockchain.com, and 1RoundTable Partners.
Shares of DYNX surged over 30% in pre-market trading following the news.
The Ether Machine aims to offer institutional exposure to ETH and ETH-denominated yields through staking, restaking, and DeFi participation.
The listing aligns with renewed market strength, as ETH jumped 25% last week, breaking above $3,800 for the first time in 2025.
