FG Nexus, an Ethereum-focused treasury firm, has further reduced its ETH exposure by selling approximately 10,000 ETH, a transaction valued at roughly $17.8 million at the time of the trade. This is the latest in a series of sell-offs, underscoring the firm's deliberate move to unwind its crypto holdings.
With this latest sale, FG Nexus’s cumulative losses on its Ethereum positions—covering both realized trading losses and unrealized paper losses on remaining holdings—have now surpassed $100 million. The paper losses stem from the decline in ETH's price since the assets were acquired, while realized losses are locked in through actual sales at lower prices.
On-chain data indicates that the firm's Ethereum holdings have contracted significantly, signaling a shift from concentrated treasury exposure toward broader diversification. While FG Nexus has not outlined any future reduction plans, its ongoing sell-off campaign suggests a strategic recalibration of the role ether plays in its corporate balance sheet.