FG Nexus has transferred another 10,000 Ether worth approximately $17.8 million, extending a series of treasury sales that have significantly reduced the company's Ethereum holdings. According to onchain data identified by Arkham, a wallet linked to the Nasdaq-listed Ethereum treasury company moved the ETH on Wednesday. This follows earlier disposals totaling more than 21,000 ETH that were sold for roughly $55 million, demonstrating the company's continued commitment to reducing its ETH exposure and bringing total unrealized losses on its Ethereum treasury to over $100 million. The latest transfer comes after the company built a substantial position worth approximately $196 million at the time of purchase.
Corporate filings show FG Nexus accumulated 50,770 ETH between August and September 2025 at an average cost of $3,860 per coin. With Ether trading near $1,753.53 at the time of reporting, based on AMBCrypto data, the company's original position has fallen by more than $85 million in value compared with its purchase price. The cryptocurrency is currently down roughly 25% in the past month and 6.84% from the previous day, representing a significant loss on the company's original investment. Public disclosures released in December 2025 showed the company held approximately 40,093 ETH, and subsequent company statements have not addressed the transfers identified by blockchain tracking services.
Market pressure has appeared in the company's stock performance, with Yahoo Finance data showing FG Nexus shares fell 13.40% in pre-market trading Thursday to $7.11 after closing at $8.21 on Wednesday. The stock decline reflects investor concerns about the company's continued ETH disposals and the substantial losses on its original investment. The company has not publicly commented on the sales activity identified by blockchain tracking services, with Cointelegraph reaching out for comment but receiving no response by publication time. The stock decline reflects broader market concerns about the company's treasury management strategy.
While FG Nexus continues to reduce its ETH holdings, several other public companies have remained committed to Ethereum treasury strategies despite the asset's price weakness. Among the largest buyers, BitMine recently expanded its position with a purchase valued at approximately $52 million, currently holding more than 5.4 million ETH and making it the largest publicly traded corporate holder of Ethereum. BitMine also announced plans to issue dividend-paying preferred shares to support its Ethereum accumulation strategy, demonstrating the contrasting approaches between sellers and buyers in the current market environment. Additionally, Sharplink has earned a total of 20,590 ETH in staking rewards, while BitGo facilitated another 25,000 ETH purchase worth $47.98 million.
The divergence between FG Nexus's losses and continued institutional interest highlights a clear gap between network engagement and market valuation. According to AMBCrypto data, active addresses on the Ethereum network are close to 450,600, indicating strong user adoption despite price weakness. The Ethereum Spot Taker CVD (90-day) in 2026 has shown an ongoing conflict between aggressive buyers and sellers, with the indicator recently staying in the green, suggesting renewed buying activity. However, this renewed buying has not been strong enough to cause a significant upward move in ETH prices, as the cryptocurrency continues to trade below previous highs. This dynamic underscores the complex relationship between on-chain activity and market performance in the current Ethereum ecosystem.
