Ether Machine to Go Public via SPAC, Backed by $1.5B in ETH
A new Ethereum investment vehicle, The Ether Machine, is heading to the Nasdaq through a merger with SPAC Dynamix Corporation (DYNX). Upon listing, the company will hold an estimated 400,000 ETH—worth roughly $1.53 billion at current prices.
The vehicle aims to provide public market exposure to ETH and yield strategies such as staking, restaking, and DeFi. The listing is supported by $645 million in ETH from Andrew Keys, ex-Consensys executive and incoming chairman, along with $800 million in backing from major investors including Pantera Capital, Kraken, Blockchain.com, and 1RoundTable Partners.
DYNX shares jumped more than 30% in pre-market trading on the news.
The timing coincides with renewed market momentum—ETH surged 25% last week, pushing past $3,800 for the first time in 2025.
