A new ether investment vehicle is set to debut on the Nasdaq with an expected 400,000 ETH ($1.53 billion) on its balance sheet.

The Ether Reserve will list on the Nasdaq via a merger with special purpose acquisition company (SPAC) Dynamix Corporation (DYNX). The combined entity will be named The Ether Machine and trade under the ticker ETHM, .

DYNX shares in pre-market trading on Monday.

The Ether Machine is positioned as a public vehicle for exposure to Ether and ETH-denominated yield through seeking returns from staking, restaking and decentralized finance (DeFi).

It is backed by around $645 million worth of ETH from Andrew Keys, a former executive at Ethereum infrastructure builder Consensys, who will serve as chairman of Ether Machine.

The company also has over $800 million in financing from a range of high-profile backers, such as 1RoundTablepartners, Pantera Capital, Kraken and Blockchain.com.

The listing couldn't come at a much better time for ether bulls, as the world's second-largest cryptocurrency to for the first time in 2025.