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 and is expected to raise over $1.6 billion.

The Ether Machine aims to raise $1.6B as it debuts on Nasdaq, offering institutional investors exposure to Ethereum under ticker ETHM.

It is backed by around $645 million worth of ETH from Chairman Andrew Keys and a further $800 million from an array of high-profile investors