Ether Machine SPACs to Nasdaq, Unveils $1.5B ETH Yield

Ether Machine has rolled out its institutional Ethereum yield platform while planning a Nasdaq listing via a SPAC merger with Dynamix Corporation. The platform, backed by a $35 million seed round led by Pantera Capital and Polychain Capital, aggregates staking and DeFi returns from Ethereum protocols including Aave, Compound and MakerDAO. In a private beta it secured $200 million in AUM and aims to onboard 50 institutional clients by Q3 2024. Concurrently, Ether Machine’s SPAC deal secures over $1.5 billion in capital commitments—anchored by $645 million from co-founder Andrew Keys and $800 million from investors such as Kraken, Blockchain.com and Electric Capital. Trading under ticker ETHM, the company targets closing in Q4 2025 and plans to hold the largest ETH treasury among public firms. Ether Machine offers staking, restaking and risk-managed DeFi strategies, plus validator management and custom block-building for DAOs and institutions. It uses Fireblocks for custody and Chainlink oracles for on-chain analytics. Fees include 0.8% management and a 10% performance fee above a 5% hurdle, with an expected APY of 7.5%.