Institutional interest in Ethereum continues to grow. While many companies and whales continue to aggressively purchase ETH, the latest buying news comes from a company called Ether Machine.
Accordingly, the company announced that it had purchased an additional 15,000 ETH, thus taking one step closer to its $1.5 billion ETH accumulation target.
Ethereum (ETH) yield and infrastructure company The Ether Machine announced that it has purchased 15,000 ETH worth approximately $57 million as part of its long-term accumulation strategy, bringing its total holdings to 334,757 ETH.
This acquisition pushed Ether Machine’s ETH holdings above the Ethereum Foundation, which holds approximately 234,000 ETH, and into third place. Bitmine, led by Tom Lee, and SharpLink Gaming, led by Joe Lubin, remain the two largest institutional holders of Ethereum.
“We couldn’t think of a better way to celebrate Ethereum’s 10th birthday than to deepen our commitment to Ether. Our mission is to accumulate, compound, and support ETH for the long term; not just as a financial asset, but as the backbone of a new internet economy,” said Andrew Keys, Co-Founder of The Ether Machine.
At the same time, the company is expecting to go public on Nasdaq under the ticker symbol ETHM, which is expected to happen in Q4 or later.
Ethereum Accumulation Continues!
Apart from Ether Machine, many newly created wallets also accept Ethereum.
According to a post by on-chain analyst EmberCN, a newly created wallet purchased 39,652 ETH worth $152 million from Galaxy Digital.
The analyst noted that it is not yet clear whether the wallet in question represents a new institutional buyer entering the market or is a newly created address for an existing institutional player like SharpLink Gaming.
According to Lookonchain’s post, 3 new wallets accumulated 73,821 ETH worth $283 million in the last 8 hours.
According to the data, since July 9, a total of 11 new wallets have accumulated 722,152 ETH worth $2.77 billion.
*This is not investment advice.
