July 21 (Reuters) - The Ether Reserve, a new crypto

venture backed by prominent crypto investors, will list on the

Nasdaq through a merger with blank-check firm Dynamix

Corporation ( DYNX ) and is expected to raise over $1.6 billion.

The combined entity, to be named The Ether Machine, aims

to launch with more than 400,000 Ether on its balance sheet,

positioning it as the largest public vehicle for institutional

exposure to the world's second-largest cryptocurrency.

The deal highlights rising institutional interest in holding

crypto on corporate balance sheets, a strategy popularized by

Michael Saylor at Strategy.

In recent months, several projects have announced plans to

publicly list their shares while aiming to wrap crypto assets

into equity to attract traditional investors.

While most corporate interest has focused on Bitcoin, Ether

has surged in recent weeks, hitting a six-month high on Friday.

Ether has benefited from increased regulatory clarity

around U.S. dollar-pegged stablecoins, most of which are issued

and transacted on the Ethereum blockchain.

Andrew Keys, a former executive at ConsenSys - a crypto

firm founded by Ethereum co-founder Joseph Lubin - will serve as

Ether Machine's chairman.

Investors in the blank-check deal, including Blockchain.com,

Kraken, and Pantera Capital, are contributing more than $800

million through an upsized common stock offering.

The company will trade on the Nasdaq under the symbol

"ETHM" upon deal close, which is expected in the fourth quarter

of 2025.