Ethereum continues to attract attention from the system as yet another company plans to go to publications with dedicated capital distributed primarily to ETH.
Ethereal Machines – The newly formed entity aimed at giving investors access to Ethereum yields will be made public with a massive amount of committed capital worth $1.5 billion.
“More than a finance company”
According to a press release on the company’s official website, the ether machine will be launched at over 400,000 ETH and will manage the largest asset pool of public vehicles for facility grade exposure to both ETHEREAM and ETH denominations.
The newly formed entity wants to have public market investors access to ETH exposures, raising $800 million from top institutional investors such as Archetype, Blockchain, Com, Pantera Capital, Electric Capital and Kraken.
Commenting on the issue was co-founder and chairman Andrew Keys.
Ether machines provide safe and liquid access to ether. This is the digital oil that powers the next era of the digital economy. (…) We have formed a team from “Ethereum Avengers” to actively manage and unlock yields to levels that investors believe would be market-leading.
Instead of defining yourself as a finance company, the official website states that ether machines are “ether generation companies.” In other words, it is not a passive owner of ETH, but is actively working to generate negative yields on investors’ ETH.
The bet will be big
Public companies that own ETH are beginning to become a new meta among institutional investors following Michael Saylor’s strategy playbook.
Remember, popular crypto commentator Tomley led the $250 million ETH Treasury effort through Bitmine at the start of July. Speaking about it, Lee pointed out:
“Under the Stablecoin industry there is Ethereum. It’s really the backbone and architecture of Stablecoins. So it’s important to create a project that will inherently protect the network and accumulate Ethereum to have some impact.”
