Corporate Ethereum accumulation heats up as FG Nexus reveals $200m holdings
FG Nexus reveals 47,331 ETH holdings, targets 10% stake in Ethereum.
- FG Nexus announced spending $200M to buy 47,331 ETH
- The firm intends to hold a 10% stake in the token
- Ethereum is quickly gaining traction among corporate investors
Ethereum (ETH) is quickly becoming the next big trend among institutional investors. On August 11, FG Nexus, formerly Fundamental Global, revealed that it currently holds 47,331 ETH in reserve, with major expansion plans underway. The capital came from the $200 million private placement the company announced earlier.
To accelerate its holdings, FG Nexus intends to tap into the token’s yield through staking. The firm’s ETH reserves will earn staking and restaking income, while also opening the door to other DeFi markets within the Ethereum ecosystem.
FG Nexus to tap into Ethereum’s DeFi ecosystem
In addition to ETH staking yield, the company will also leverage Ethereum’s DeFi ecosystem. According to the company, this includes tokenized RWAs and stablecoin yield.
FG Nexus launched its accumulation strategy on July 30, exactly 10 years after the minting of the Ethereum genesis block. Its first purchase was a symbolic 6,400 ETH. The company has partnered with Anchorage Digital for crypto custody and Galaxy for asset management.
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