FG Nexus sells 10,000 ETH as treasury losses top $100M
A wallet for Arkham's publicly listed Ethereum treasury company FG Nexus moved 10,000 Ether on Wednesday, extending a series of sales that began after the company built a large position in 2025.
The latest transfer, which equates to $17.8 million at current prices, comes after the Nasdaq-listed company withdrew more than 21,000 ETH from its treasury for $55 million after an earlier rejection.
FG Nexus accumulated 50,770 ETH between August and September 2025 at an average of $3,860 per coin, building a position worth about $196 million at the time.
With Ether hovering around $1,765 at the time of writing, the cryptocurrency is down roughly 54% from FG Nexus' average purchase price of $3,860, representing a loss of more than $100 million in value on its original investment, according to CoinGecko data.
Shares of FG Nexus fell 13.40% in premarket trading Thursday, trading at $7.11, down from $8.21 late Wednesday, according to Yahoo Finance data.
A wallet connected to FG Nexus moves 10k ETH. Source Arkham
The company disclosed holdings of approximately 40,093 ETH in December 2025 and has yet to publicly comment on its Ether sales, with recent transfers identified by onchain data providers and not disclosed in subsequent company disclosures.
Cointelegraph reached out to FG Nexus for comment, but did not receive a response by print.
Institutional Ether holdings continue to accumulate.
FG Nexus' recent sell-off contrasts with the approach taken by other corporate Ether holders who have continued to add to their positions despite Ethereum's decline.
Related: Ethereum Drops to 14-Week Lows: Can ETH Price Hold $1.8K Support?
Listed miner BitMine is the largest publicly traded ether with over 5.4 million ETH and is adding to its position, including a recent purchase of approximately $52 million worth of ether.
The company announced plans on Wednesday to issue dividend-paying preferred shares, expanding its financial instruments to support its Ethereum treasury strategy.
Some analysts also remain bullish on Ether's long-term outlook despite its recent underperformance.
Standard Chartered confirmed the long-term Ether price of $40,000 last week, the fundamentals of the Ethereum network are strengthening, and it will continue to dominate the growing onchain movement and decentralized finance.
The bank compared Ethereum's current position to that of Amazon during its early growth, arguing that the asset's market performance has yet to fully reflect those underlying trends.
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