Digital asset firm The Ether Machine has significantly increased its exposure to Ethereum through the acquisition of 15,000 ETH, executed at an average price of $3,809.97.
This purchase elevates the firm’s total Ethereum holdings to 334,757 ETH, reinforcing its position as a major institutional holder.
Funds earmarked for further expansion include $407 million in cash held by The Ether Reserve LLC, with the firm targeting a total holding exceeding 400,000 ETH.
Supplementing its accumulation strategy, The Ether Machine has unveiled plans for a Nasdaq listing under the ticker symbol ‘ETHM’. The proposed listing is expected to raise over $1.6 billion to fuel its institutional-focused Ethereum investment strategies, which move beyond simple asset ownership.
The firm emphasizes generating institutional-grade yield via active strategies including Ethereum staking and engagement with decentralized finance (DeFi) protocols.
In a separate development, The Ether Machine co-founder Andrew Keys has committed $100,000, personally donated to the Protocol Guild to support the Ethereum development ecosystem and core contributors.