Why is FG Nexus selling Ethereum?

FG Nexus has continued reducing its Ethereum holdings as the asset trades far below the company's average purchase price. The latest sale involved 10,000 ETH worth approximately $17.8 million, following earlier disposals of more than 21,000 ETH.

How much Ethereum did FG Nexus originally buy?

FG Nexus accumulated 50,770 ETH between August and September 2025. The company paid an average of $3,860 per ETH, building a position valued at roughly $196 million at the time.

How large are FG Nexus's losses?

With Ethereum trading near $1,765, the company's original investment is down more than 54%. Based on current prices, FG Nexus is facing realised and unrealised losses exceeding $100 million.

How much ETH has FG Nexus sold so far?

The company has sold more than 31,000 ETH based on the reported transactions. The latest 10,000 ETH transfer follows previous sales of more than 21,000 ETH worth approximately $55 million.

Has FG Nexus explained why it is selling Ethereum?

No. The company has not publicly commented on the recent Ethereum sales. The transactions were identified by blockchain analytics providers, and FG Nexus had not responded to media requests at the time of publication.

How has FG Nexus's stock reacted?

FG Nexus shares fell 13.4% in pre-market trading, dropping from $8.21 to $7.11. Investors appear concerned about the company's shrinking Ethereum treasury and the losses associated with its crypto strategy.

Are other institutional Ethereum holders also selling?

No. Many large corporate Ethereum holders continue accumulating despite the market downturn. This makes FG Nexus's selling strategy notable because it differs from the approach taken by several industry peers.

Which company is the largest corporate holder of Ethereum?

BitMine is currently the largest publicly traded holder of Ethereum, with more than 5.4 million ETH. The company recently added approximately $52 million worth of Ether to its treasury.

Cryptocurrency

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FG Nexus losses exceed $100M after Ether sales

Written by Mahathir BayenaPublished Jun 5, 2026, 3:21 AM

FG Nexus has transferred another 10,000 Ether worth approximately $17.8 million, continuing a series of sales that have significantly reduced its Ethereum treasury holdings.

The latest transaction follows earlier disposals of more than 21,000 ETH worth roughly $55 million, according to onchain data linked to wallets associated with the Nasdaq-listed company.

FG Nexus accumulated 50,770 ETH between August and September 2025 at an average purchase price of $3,860 per coin, building a position valued at around $196 million at the time.

With Ethereum trading near $1,765, the asset has fallen approximately 54% below the company’s average acquisition cost, implying losses exceeding $100 million across realised sales and remaining holdings.

The market reaction extended to the company’s shares, which fell 13.4% in pre-market trading to $7.11 after closing at $8.21 the previous session.

FG Nexus has not publicly commented on the recent Ether sales, despite blockchain analytics firms identifying multiple treasury transfers since its last disclosed holding update of approximately 40,093 ETH in December 2025.

The selling contrasts sharply with the strategy adopted by other corporate Ethereum holders, including BitMine, which recently added approximately $52 million worth of Ether and remains the largest publicly traded holder of the cryptocurrency with more than 5.4 million ETH.

Despite Ethereum’s recent weakness, analysts at Standard Chartered continue to maintain a long-term price target of $40,000, citing strengthening network fundamentals, increasing onchain activity and Ethereum’s dominant position within decentralised finance markets.

At the time of reporting, Ethereum price was $1,729.03.