FG Nexus Offloads 10,000 Ethereum as Treasury Losses Surpass $100 Million

Latest Transfer Extends Series of Sales

According to onchain data tracked by Arkham Intelligence, a wallet associated with FG Nexus moved 10,000 ETH on Wednesday. This latest transaction follows previous disposals of more than 21,000 ETH, which generated approximately $55 million.

The company originally accumulated 50,770 ETH between August and September 2025 at an average price of $3,860 per coin. At current market levels around $1,765 to $1,780 per ETH, the value of that initial position has dropped substantially, pushing total losses above $100 million.

Impact on Company Stock and Strategy

FG Nexus shares reacted negatively to the ongoing sales. The stock fell 13.40% in pre-market trading, dropping to $7.11 after closing the previous session at $8.21. The company has not issued public statements addressing the wallet transfers identified through blockchain analysis.

This reduction strategy stands in contrast to the company's earlier aggressive accumulation during a period of rising institutional interest in Ethereum treasuries. Market observers note the challenges for firms that built large positions near previous highs.

Contrasting Approaches Among Institutional Holders

While FG Nexus reduces its Ethereum exposure, other public companies continue to expand their holdings. BitMine, currently the largest publicly traded corporate holder of ETH, recently added approximately $52 million worth of Ethereum to its treasury. The firm now controls over 5.4 million ETH and has announced plans to issue dividend-paying preferred shares to fund further accumulation.

This split in strategy highlights differing views on Ethereum's prospects amid current market conditions. Some institutions see long-term value in the network's fundamentals, while others appear focused on managing downside risk.

Market Context and Analyst Perspectives

Ethereum continues to face pressure, trading well below its 2025 peaks. Despite this, positive developments persist in the ecosystem, including record stablecoin supply reaching $180 billion, representing nearly 60% of the global total.

Standard Chartered recently reaffirmed its long-term price target of $40,000 for ETH, pointing to strengthening network activity, growth in decentralized finance, and Ethereum's role in supporting layer-2 solutions and tokenized assets.

However, other voices express caution. Bankless co-founder David Hoffman sold his ETH holdings earlier this year, noting that while the network succeeds as infrastructure, this may not fully translate to token value appreciation.