The Ether Machine Gobbles $56.9M ETH—Now Third-Largest Ethereum Whale
Move over, crypto whales—there's a new alpha predator in Ethereum's waters.
The Ether Machine just vacuumed up enough ETH to become the network's third-largest holder. A cool $56.9 million buy that'd make even Wall Street's algorithmic traders blush (if they understood blockchain).
Feeding frenzy or calculated power play?
This isn't your grandma's HODL strategy. The Ether Machine operates with surgical precision—accumulating ETH while traditional finance still debates whether crypto is 'real.' Meanwhile, bankers are stuck explaining to clients why their 0.5% savings accounts can't compete.
One thing's clear: In the decentralized jungle, the machines are evolving faster than the suits.
ETH corporate treasuries take off
Ethereum is seeing a radical shift from being held by ETFs to corporate treasuries like The Ether Machine.
According to data analysis provided by crypto exchange CEX.io, at the start of 2025, spot Ether ETFs outweighed corporate treasuries with a ratio of more than 100 to 1, or $12.1B versus $120M. However, by July, the ratio had dropped to less than 4 to 1, with treasuries climbing to $6.2 billion and ETFs reaching $21.4 billion.
A CEX.io spokesperson told Decrypt that the trend can be attributed to “a deeper shift toward native, utility-driven adoption,” explaining the potential limitations of holding Ethereum via ETFs.
“For Ethereum specifically, U.S. spot ETFs currently don’t support staking, making direct holdings more attractive since companies can earn rewards and actively engage with the network, rather than passively holding ETF shares.”
Ethereum staking enables investors to receive a variable yield from their crypto, somewhat similar to a bank account or stock that pays dividends.
