Ether Machine, backed by Pantera Capital, celebrated Ethereum’s 10th anniversary by purchasing $56.9 million worth of ETH. This investment helps to establish it as a major player in the Ethereum market. The company plans to list on Nasdaq under the ticker “ETHM” and aims to acquire over 400,000 ETH.
Ether Machine Buys 15,000 ETH
ETH-centric Ether Machine acquired 15,000 ETH at $3,809 each, totaling $56.9 million, through The Ether Reserve LLC as part of a $97 million private placement. After this purchase, it holds 334,757 ETH, surpassing the Ethereum Foundation’s 234,000 ETH, making it the third-largest institutional holder, following Bitmine and SharpLink Gaming.
Ether Machine is active in generating ETH rather than just holding it. Its merger with Dynamix Corporation positions it to become the largest public ETH investment vehicle.
The company, formed this month, had raised around $1.5 to $1.6 billion, including $645 million from co-founder Andrew Keys.
The company focuses on staking, restaking, and decentralized finance (DeFi) to earn ETH-based returns for investors. Its recent purchase has likely attracted other institutional investors to Ethereum, aided by clearer regulations like the GENIUS Act.
FG Nexus Launches Ethereum Treasury Strategy
Similar to the Ether Machine, FG Nexus Inc., formerly known as Fundamental Global Inc., has raised $200 million through a private sale of 40 million prefunded common stock warrants. Each warrant is priced at $5. This announcement came on the 10th anniversary of Ethereum.
The company plans to establish an Ethereum (ETH) treasury strategy, making ETH its main reserve asset. It will focus on earning staking rewards and investing in tokenized real-world assets. Several strategic investors are backing this initiative, including Galaxy Digital and Kraken.
Galaxy Digital will manage the treasury and staking setup, while Kraken will help with staking operations. The new ticker symbols, FGNX and FGNXP, are expected to start trading around August 1, 2025. A FG CVR Trust will manage older non-core assets, and shareholders as of August 8, 2025, will receive non-transferable Contingent Value Rights.
Meanwhile, Ether is currently priced at around $3,800 with a $466.39 billion market cap and a 24-hour volume of $36.24 billion per CoinMarketCap data.
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