The post Pantera-Backed Ether Machine to Go Public With 400,000 ETH Worth $1.5 Billion appeared on BitcoinEthereumNews.com.
Ethereum continues to attract instituional attention as yet another company plans to go publich with committed capital largely distributed in ETH. The Ether Machine – a newly-formed entity aimed at enabling investors to access Ethereum yield – will go public with a massive $1.5 billion worth of committed capital. “More than a Treasury Company†According to a press release on the firm’s official website, The Ether Machine is expected to launch with over 400,000 ETH and manage the largest pool of assets in a public vehicle for institutional-grade exposure to both Ethereum and yield denomianted in ETH. The newly-formed entity wants to allow public market investors to access ETH exposure and it has raised $800 million from top-tier institutional investors such as Archetype, Blockchain,com, Pantera Capital, Electric Capital, Kraken, and more. Commenting on the matter was Andrew Keys, Co-Founder and Chairman, who also contributed $645 million for the starting capital, who said: The Ether Machine provides secure, liquid access to Ether – the digital oil that is powering the next era of the digital economy. […] We have assembled a team of “Ethereum Avengers†to actively manage and unlock yields to levels we believe will be market-leading for investors. Instead of defining itself as a treasury company, the official website states that The Ether Machine is an “ether generation company.†In other words, it will not be a passive holder of ETH but rather work actively toward generating ETH-denominated yield for its investors. Bets Getting Bigger Public companies holding ETH is starting to become a new meta amongst institutional investors following in the playbook of Michael Saylor’s Strategy. Recall that earlier in July, the popular crypto commentator Tom Lee spearheaded a $250 million ETH treasury effort through Bitmine – an investment that pales in comparison to the most recent one.…
