TL;DR
- Fresh Sale: FG Nexus moved another 10,000 ETH worth $17.8M, extending a broader selloff that began after its 2025 accumulation.
- Deep Losses: The company bought 50,770 ETH at $3,860, and with prices near $1,765, its position reflects more than $100M in lost value, alongside a 13.40% pre‑market share price drop.
- Market Contrast: While FG Nexus continues selling, BitMine is adding to its 5.4M‑ETH treasury, and Standard Chartered reaffirmed a long‑term $40,000 Ether target, citing strong network fundamentals and rising onchain activity.
A fresh onchain transfer on Wednesday shows FG Nexus continuing to unwind its Ether position, marking the latest step in a prolonged selloff that began months after the company built a sizable treasury allocation in 2025. The move adds new pressure to a strategy that has already produced steep unrealized losses as Ethereum’s price continues to lag.
Ongoing Sales Deepen the Company’s Drawdown
The latest transaction involved 10,000 ETH, worth about $17.8 million at current prices, extending a series of disposals that now exceed 21,000 ETH sold for roughly $55 million. FG Nexus originally accumulated 50,770 ETH between August and September 2025 at an average cost of $3,860 per coin, a position then valued at nearly $196 million. With ETH trading around $1,765, the asset sits roughly 54% below the company’s average purchase price. That decline implies more than $100 million in lost value on the original investment, underscoring the scale of the drawdown.
Shares of FG Nexus reflected the pressure as well, falling 13.40% in pre‑market trading on Thursday to $7.11, down from $8.21 at Wednesday’s close. The company last disclosed holdings of about 40,093 ETH in December 2025 and has not publicly addressed its recent transfers. Onchain data providers have flagged multiple movements, but FG Nexus has yet to comment on the rationale or timing behind the sales.
Diverging Strategies Among Corporate Ether Holders
The selling by FG Nexus contrasts sharply with the approach taken by other major Ether‑exposed firms. BitMine, the largest publicly traded holder of Ether with more than 5.4 million ETH, has continued adding to its position, including a recent $52 million purchase. The miner also announced plans to issue dividend‑paying preferred shares to expand its financing options for its Ethereum strategy. Analysts remain divided on the near‑term outlook, but some maintain a constructive long‑term view.
Standard Chartered reiterated its $40,000 Ether price target last week, citing strengthening network fundamentals, rising onchain activity, and Ethereum’s continued dominance in decentralized finance. The bank compared Ethereum’s current trajectory to Amazon’s early growth phase, arguing that market performance has yet to fully reflect underlying trends. As the market digests these competing signals, FG Nexus faces growing scrutiny over its treasury decisions and the timing of its continued Ether disposals.
