Fundamental Global, a Nasdaq-listed financial services company soon to be rebranded as FG Nexus, has filed a $5 billion shelf registration statement with the US SEC to aggressively expand its Ethereum treasury strategy.
The firm’s goal is to secure a 10% stake in the Ethereum network, positioning it as the largest corporate ETH holder, ahead of BitMine’s $3.5 billion and SharpLink’s $2.2 billion holdings.
The registration includes $4 billion in “at-the-market” common stock offerings, allowing flexible fundraising over time, with the remaining capacity allocated for preferred stock, debt, or other securities.
According to Maja Vujinovic, head of the Digital Assets Division, accelerating institutional adoption creates an ideal environment for capital deployment.
The strategy targets multiple revenue streams, including ETH price appreciation, staking rewards, and exposure to tokenized real-world assets built on Ethereum.
If successful, the move would mark one of the largest corporate treasury commitments to Ethereum in history.
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