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![DeFi_Hanzo Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::868092763396599808.png) Hanzo ㊗️ [@DeFi_Hanzo](/creator/twitter/DeFi_Hanzo) on x 143.4K followers
Created: 2025-07-21 19:56:55 UTC

Another $ETH wrapper just entered the market.

I recently shared details about $SBET planning to raise $5B to “buy ETH.” 

Now we’re seeing Ether Machine, backed by Panthers Capital, raising $1.5B, with $700M of ETH contributed by its own CEO, Andrew Keys.

The strategy is becoming clear:

Large holders are packaging their ETH into public companies, listing them on Nasdaq, and selling exposure at 4–5x the spot price.

All while retail investors are still holding out hope for ETH to reclaim $XXXXX.

This isn’t just speculation, it’s a structured, legal exit route for big players.

Am I the only one worried about it becoming the new norm?


XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947385320103977342/c:line.svg)

**Related Topics**
[nasdaq](/topic/nasdaq)
[listing](/topic/listing)
[holders](/topic/holders)
[$700m](/topic/$700m)
[$15b](/topic/$15b)
[primary market](/topic/primary-market)
[$5b](/topic/$5b)
[$eth](/topic/$eth)

[Post Link](https://x.com/DeFi_Hanzo/status/1947385320103977342)