Thomas Daniels
Ether Machine, through its subsidiary holdings, has purchased an additional 15,000 ETH for approximately $56.9 million, increasing its aggregate holdings to 334,757 ETH, substantially surpassing the Ethereum Foundation’s estimated 234,000 ETH in institutional holdings. The acquisition marks a continuation of the firm’s long‑term accumulation strategy and was strategically executed on Ethereum’s tenth anniversary to underscore its commitment to the protocol.
The average cost per ETH in the deal was about $3,809, as disclosed in the company’s Wednesday release. According to Andrew Keys, chairman and co‑founder of Ether Machine, “We’re just getting started”—emphasizing the firm’s bullish trajectory on Ethereum.
Ether Machine, created via a business combination between The Ether Reserve and Nasdaq‑listed Dynamix Corp., is expected to complete its public listing under the ticker ETHM in Q4, with a proposed $1.6 billion capital raise.
Following Ether Machine’s transaction, SharpLink Gaming acquired 11,259 ETH, spending roughly $43.09 million USDC at an average price of $3,828 per coin. On‑chain data indicates that SharpLink now holds approximately 449,276 ETH, valued at about $1.73 billion—making both firms among the largest corporate holders of ETH, trailing only Bitmine.
Ether Machine retains $407 million in reserves for further ETH purchases, per its announcement.
In addition to the acquisitions, Keys made a $100,000 donation to the Protocol Guild, a Web3 funding initiative supporting Ethereum core development. The Protocol Guild has disbursed millions in grants to over 150 contributors, reinforcing institutional engagement with Ethereum infrastructure.
Ray Youssef, CEO of NoOnes, commented that Ethereum is evolving beyond a smart‑contract platform, now seen by institutional players as foundational infrastructure for digital finance—supporting tokenized assets, on‑chain payments, and custody solutions.
A recent Standard Chartered report highlights that corporate treasury firms are now accumulating Ether at nearly twice the pace of Bitcoin, with firms acquiring 1% of Ethereum’s total supply since early June. The report suggests that these trends, along with inflows into US spot Ether ETFs, are bolstering ETH’s rally and may help it surpass a projected $4,000 year‑end price—although ETH remains over 20% below its all‑time high of $4,890.
Standard Chartered further projects that treasury firms could eventually amass up to 10% of total ETH supply, leveraging staking yields and DeFi exposure unavailable to traditional Bitcoin corporate treasuries.
