A team of crypto-native researchers and public market experts are preparing to launch what is called the largest yield-bearing ether fund that targets institutional investors.
The company, called the Ether Machine, is planning to create a publicly exchanged vehicle that offers exposure to grade-grade in Ethereum infrastructure and ether (Eth) Ani, this announced on Monday.
It was founded by Andrew Keys, a former board member and head of global business development in Consensys, and David Merin, a former Executive Development Executive in Consensys that serves as the CEO of the Ether Machine.
The Ether Machine aims to “expand Ethereum’s economic security as the base layer for the next period of global finance and calculation,” According to on its website.
The company will develop through an incoming combination between the Ether Reserve and Dynamix Corp, a company listed in the NASDAQ listed for a special purpose.
Following the business combination, the Ether Machine plans to list at Nasdaq under the ticker symbol “ETHM,” with over 400,000 ETH, which costs more than $ 1.5 billion, under the launch management.
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Provides focus and approach to Ethereum-native
The Ether Machine aims to handle the “one of the largest on-chain positions of the ETH” of any public company, forming ethical returns by staking, restoring and managed participation in decentralized financial protocols (DEFI).
The company said it would also offer “Turnkey infrastructure solutions” for businesses, Daos and Ethereum-natively built a building on the blockchain.
Cointelegraph reached the ether machine for more details on the size and range of the ETH position position.
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The announcement came in the middle of a growing roster of companies that adopted bitcoin (Btc) and cryptocurrency treasury, which aims to strengthen the value of the shareholder and attract more investors.
On June 19, the NASDAQ announced listed in the Lion Group a $ 600 million hyperliquid (Hype) Token Treasury Reserve, which has been debuting with $ 10.6 million initial investment.
On June 11, interactive strength, a fitness equipment manufacturer listed in Nasdaq, was announced a $ 500 Million increases to get a fetch.ai (Fet) tokens and established the largest corporate AI token in the world, according to the firm.
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