FG Nexus sells 10,000 ETH; unrealized losses exceed $100M

FG Nexus moved 10,000 Ether on Wednesday, roughly $17.8 million at current prices, extending a series of sales after the company built a 50,770-ETH position in 2025. On-chain analytics firm Arkham flagged a wallet linked to FG Nexus as the source of the transfer.

The latest sale follows earlier disposals that unwound more than 21,000 ETH from the company’s treasury for about $55 million. FG Nexus disclosed holdings of roughly 40,093 ETH in December 2025 and has not publicly addressed transfers identified by on-chain data providers since that disclosure.

FG Nexus accumulated 50,770 ETH between August and September 2025 at an average purchase price of $3,860 per coin, a position valued at about $196 million at the time. With Ether trading near $1,765 at the time of writing, the token is roughly 54% below FG Nexus’s average entry, implying an unrealized loss exceeding $100 million on the original holdings.

The company’s shares fell in pre-market trading, down 13.4% to $7.11 from $8.21 at Wednesday’s close.

The firm’s selling contrasts with the behavior of other publicly listed Ether holders. Miner BitMine, the largest listed holder with more than 5.4 million ETH, has continued to add to its position, including a recent purchase of about $52 million in Ether. BitMine also announced plans to issue dividend-paying preferred shares to support its Ethereum treasury strategy.

Some analysts remain positive on Ether’s long-term outlook. Standard Chartered reaffirmed a long-term $40,000 price target for Ether last week, citing stronger network fundamentals, rising on-chain activity and continued dominance in decentralized finance.

FG Nexus has not released a statement explaining the recent transfers. Public on-chain records and company filings remain the primary sources for tracking the company’s treasury holdings and the timing of sales.