Ethereum continues to gain traction among institutional investors, with The Ether Machine making a bold move by acquiring 15,000 ETH—worth roughly $57 million—as part of its aggressive accumulation strategy.
This latest purchase boosts the firm’s total holdings to over 334,000 ETH, placing it ahead of the Ethereum Foundation and solidifying its position as the third-largest institutional holder.
Co-founder Andrew Keys said the purchase reflects a long-term belief in Ethereum as the foundation of a new digital economy. The move also coincides with the company’s anticipated public listing under the ticker ETHM, expected later this year.
The buying spree isn’t limited to established players. On-chain analysts have flagged several new wallets accumulating ETH in bulk. One wallet reportedly received over 39,000 ETH from Galaxy Digital, raising speculation about a potential new institutional buyer.
Additionally, three other wallets amassed nearly 74,000 ETH within hours, while recent data shows over $2.7 billion in ETH has been scooped up by just 11 new wallets since early July.
The surge in large-scale ETH purchases suggests a growing institutional belief in Ethereum’s long-term utility and value—well beyond its current price performance.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/ethereum-sees-record-accumulation-as-institutional-confidence-rises/