Nasdaq-Listed FG Nexus Shrinks ETH Treasury After Aggressive 2025 Accumulation

Highlights:

• FG Nexus has shrunk its ETH treasury after selling another 7,550 ETH in February.
• The combined realized and unrealized losses have climbed to nearly $83 million after the repeated Ethereum sales.
• The current holdings remain near 30,000 ETH, a sharp drop from the original accumulation phase.

FG Nexus, an Ethereum treasury firm, sold 7,550 ETH for about $14.06 million, according to on-chain tracker Lookonchain. The transfer follows a series of token sales that began in late last year. The company has reduced its holdings through multiple transactions since October.

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According to Lookonchain, Ethereum treasury firm FG Nexus sold another 7,550 ETH (about $14.06 million) today. The firm had purchased 50,770 ETH for $196 million at an average price of $3,860 in August and September 2025, but later began reducing its holdings, selling 21,025 ETH…

— Wu Blockchain (@WuBlockchain) February 25, 2026

FG Nexus had already sold more than 21,000 ETH before this sale. The firm sold those tokens at an average price of $2,649. Most of its original purchases were made at an average price of about $3,860 per token.

The company deployed roughly $196 million during its main buying period. Current filings and on-chain tracking show combined realized and unrealized losses of $82.8 to $83 million. Realized losses stem from completed disposals. Unrealized losses remain on the remaining balance. Following the February transaction, FG Nexus holds about 30,094 ETH. That position is valued at an estimated $57.5 million. The company trades on Nasdaq and structured its treasury model around Ethereum accumulation.

Ethereum treasury firm FG Nexus(@FGNexusio) sold another 7,550 $ETH($14.06M) today.

In August and September 2025, they bought 50,770 $ETH($196M) at $3,860 avg.

On October 22, 2025, they announced plans to sell their property to buy more $ETH.

But less than a month later, they… pic.twitter.com/m5cFreTBQk

— Lookonchain (@lookonchain) February 25, 2026

The $196 Million Ethereum Accumulation That Built the Position

FG Nexus accumulated 50,770 ETH in August and September 2025. The acquisitions were estimated at $196 million. The company concentrated on buying within a short two-month span. FG Nexus financed the plan by sourcing about $200 million through a private placement in mid 2025.

The round included Galaxy Digital, Kraken, Hivemind Capital, and Digital Currency Group. The investment was used to fund the earliest Ethereum treasury buildout. The strategy was launched after the firm changed its name from Fundamental Global. The management described Ethereum as a reserve asset in its balance sheet structure.

Meanwhile, FG Nexus recently stated that shareholders can tokenize common and preferred stock on the Ethereum blockchain. Shareholders will have an opportunity to exchange current shares for blockchain-based tokens. The company stated that tokenized shares will retain identical ownership rights.

FG Nexus Shrinks ETH Treasury as Strategy Shifts and Market Pressures Mount

FG Nexus announced its intention to sell a Quebec property worth around $10 million in late October. The company announced that it might utilize the proceeds to buy more ETH and to buy back shares. FG Nexus reported having over 40,000 ETH as of December 17. The filing also indicated approximately $25 million in both cash and USDC.

Meanwhile, Ethereum is trading near $1,936 at the time of reporting. The asset recorded a 6.01% gain over the past 24 hours. The current price remains below the firm’s average acquisition level.

Separate from FG Nexus, Trend Research reduced its Ethereum exposure. Lookonchain data shows the firm withdrew 792,532 ETH from Binance at $3,267. It later redeposited 772,865 ETH at $2,326, recording a $747 million loss. The company now holds about 21,301 ETH.

Harvard Management Company also adjusted its crypto allocation. A 13F filing shows it held 5.35 million shares of BlackRock’s iShares Bitcoin Trust as of December 31. The position carried a value of $265.8 million. The filing also disclosed a new position in an Ether fund during the same quarter.

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