PANews July 22 news, according to Reuters, Ether Reserve is a new cryptocurrency company backed by well-known crypto investors that will go public on Nasdaq through a merger with blank check company Dynamix Corporation, expected to raise over $1.6 billion. The merged entity will be named 'Ether Machine', with the goal of holding over 400,000 Ethereum on its balance sheet, making it the largest public vehicle for institutional access to the world's second-largest cryptocurrency. Dynamix's stock rose nearly 28% in early trading. This deal highlights the growing interest among institutions in holding cryptocurrencies on corporate balance sheets, with several projects announcing plans for public listings in recent months, aiming to package crypto assets as stocks to attract traditional investors.
