Ether Machine to join the Nasdaq with $1.5 billion and 400,000 ETH for institutional yield

The Ether Machine is going live on the Nasdaq with more than $1.5 billion raised and 400,000 ETH locked in its vault.

It’s the result of a reverse merger between The Ether Reserve, a crypto startup, and Dynamix Corp, a blank-check company that saw its shares more than double in premarket trading after the deal was made public, according to data from Yahoo Finance.

The new entity will use the ticker ETHM, and is expected to begin trading before the end of 2025. Once this merger closes in the fourth quarter, Ether Machine will become the largest public vehicle giving institutions direct access to ETH, the world’s second-biggest crypto.

That balance sheet play is the same exact game Michael Saylor ran with Strategy and Bitcoin, except now it’s Ethereum that’s getting the big-boy treatment.

Kraken, Pantera and Blockchain.com pump $800 million into deal

The capital behind this venture is loud and deep. Investors including Kraken, Pantera Capital, and Blockchain.com contributed over $800 million through an upsized common stock offering that padded the total raise beyond $1.6 billion.

Running the show is Andrew Keys, the new chairman. He used to be an executive at ConsenSys, the Ethereum software company built by Joseph Lubin, one of Ethereum’s co-founders. Andrew’s appointment brings a face to the project that knows the Ethereum ecosystem inside-out.

Over the last few months, a wave of crypto companies have been experimenting with similar strategies, public listings that let traditional finance bet on tokens through stocks. Most of those efforts have focused on Bitcoin, but ETH has been catching up fast. It just hit a seven-month high on Friday, as Cryptopolitan reported.

Ethereum leads global crypto inflows as U.S. dominates market

Right now, Ether is having its moment. Investment products tied to it just pulled in a record $2.12 billion in inflows, nearly double the previous high of $1.2 billion. That makes it the top-performing crypto by institutional interest over the past week.

To be clear, Ether has now logged 13 straight weeks of inflows, accounting for 23% of its total assets under management. For 2025 alone, it has already brought in $6.2 billion, beating its entire 2024 total.

Overall, last week logged $4.39 billion in inflows across all crypto investment products, beating the previous record of $4.27 billion, which happened just after the 2024 U.S. election. Those numbers mark the 14th straight week of gains, and bring this year’s total to $27 billion.

Total assets under management now sit at $220 billion, another all-time high. The appetite is real. Most of that capital came from the U.S., which saw $4.36 billion in inflows just this past week. Other regions also posted gains.

Switzerland took in $47.3 million, Hong Kong added $14.1 million, and Australia followed with $17.3 million. Meanwhile, Brazil and Germany saw outflows of $28.1 million and $15.5 million.

Bitcoin still brought in more overall this week, with $2.2 billion in inflows, but that’s a drop from $2.7 billion the week before. And unlike Ethereum, Bitcoin’s weekly exchange-traded product volumes now account for 55% of its total exchange volume.

A big reason for ETH’s upswing is the improved regulatory tone in the U.S. around dollar-pegged stablecoins, which mostly operate on the Ethereum blockchain.

Other tokens are getting attention too, but none are close to Ethereum’s numbers. Solana saw $39 million, XRP picked up $36 million, and Sui came in with $9.3 million in inflows.

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