Kraken and Blockchain.com are spearheading a $1.5 billion Ethereum treasury initiative via Ether Machine, marking a significant advancement in institutional Ethereum adoption. The effort centers on building an Ethereum reserve exceeding $1.5 billion through Ether Machine’s planned SPAC merger with Dynamix, targeting institutional investor participation.
Kraken and Blockchain.com, alongside executives including CEO David Merin and VP Jonathan Christodoro, have committed approximately $800 million in equity to the initiative. This substantial backing signals strong confidence in Ethereum’s ecosystem. The commitment is further bolstered by a personal $645 million investment from Andrew Keys, underscoring institutional belief in Ethereum’s long-term value.
The development occurs amid intensifying competition among institutional ETH reserves, following similar moves such as Sharplink Gaming recently surpassing the Ethereum Foundation’s treasury holdings. Ether Machine’s compliance-focused operational model is positioned to bridge traditional finance and decentralized assets, potentially inviting broader institutional engagement with Ethereum.