FG Nexus Sells $61M Worth of ETH Treasury Amid Digital Asset Exit

FG Nexus, a Nasdaq-listed merchant bank, has made significant moves in its digital asset business. The company's board authorized management to exit the digital asset business in June 2026, leading to the sale of all ETH and wrapped staked ETH through custodial arrangements with third-party custodians.

The sale generated $60.956 million in proceeds for the six months ended June 30, recorded as inflows from continuing operations. The company stated that it expected these funds to be used for ongoing operations.

FG Nexus launched its digital asset business in 2025 and adopted Ether (ETH) as its primary treasury asset. The company's holdings reached 50,000 ETH valued at $210.1 million by September 2025, with a target of holding a 10% stake in the Ethereum network.

The sale of digital assets has resulted in a significant decrease in the company's total stockholders' equity, falling to $64.121 million at June 30 from $143.491 million at December 31. The accumulated deficit widened to $126.381 million from $68.743 million during the same period.