FG Nexus, the digital assets division of Fundamental Global, has acquired 47,331 ETH worth roughly $200 million at an average price of $4,228.40 per token.
The Charlotte-based company launched its accumulation strategy on July 30 with a symbolic 6,400 ETH purchase marking Ethereum’s 10-year anniversary, followed by a series of rapid acquisitions.
All net proceeds from a $200 million private placement were committed to ETH buys. The firm’s core shareholder value metric is “ETH Yield,” defined as ETH generated per share, and it plans to boost this through staking, restaking, and involvement in tokenized real-world assets and stablecoin yields.
ETH rallied to $4,310 on Monday, up 47% over the past month, positioning FG Nexus to benefit from the momentum.
The move aligns with its long-term goal to become one of the largest corporate holders of Ethereum, targeting a 10% network stake. The company also announced a ticker change from FGF to FGNX.
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