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A wallet tagged by Arkham to the publicly listed Ethereum treasury company FG Nexus moved another 10,000 Ether on Wednesday, extending a series of sales that began after the company built a large position in 2025.
The latest transfer equates to roughly $17.8 million at current prices and comes after earlier disposals that saw the Nasdaq-listed firm unwind more than 21,000 ETH from its treasury for roughly $55 million.
FG Nexus accumulated 50,770 ETH between August and September 2025 at an average price of $3,860 per coin, building a position worth about $196 million at the time.
With Ether trading near $1,765 at the time of writing, according to CoinGecko data, the cryptocurrency is down roughly 54% from FG Nexus’s average purchase price of $3,860, implying a loss of more than $100 million in value on its original investment.
FG Nexus’s share price was down 13.40% pre-market Thursday, trading at $7.11, down from $8.21 at Wednesday’s close, according to Yahoo Finance data.
Wallet linked to FG Nexus moves 10k ETH. Source Arkham
The company disclosed holdings of roughly 40,093 ETH in December 2025 and has yet to publicly comment on its Ether sales since those disclosures, with recent transfers identified by onchain data providers not addressed in subsequent company statements.
Cointelegraph reached out to FG Nexus for comment but had not received a response by publication.
Institutional Ether holders continue accumulating
FG Nexus’ recent selling contrasts with the approach taken by other corporate Ether holders, who have continued to add to their positions despite Ethereum’s price decline.
Related: Ethereum drops to 14-week lows: Can ETH price hold $1.8K support?
Listed miner BitMine, the largest publicly traded holder of Ether with more than 5.4 million ETH, has been adding to its position, including a recent purchase of approximately $52 million worth of Ether.
The company also unveiled plans Wednesday to issue dividend-paying preferred shares, expanding the financing tools available to support its Ethereum treasury strategy.
Some analysts likewise remain upbeat on Ether’s long-term outlook despite its recent underperformance.
Standard Chartered reaffirmed its long-term $40,000 Ether price target last week, saying that Ethereum’s network fundamentals are strengthening, and pointing to growing onchain activity and continued dominance in decentralized finance.
The bank compared Ethereum’s current position to Amazon during its early growth phase, arguing that the asset’s market performance has yet to fully reflect those underlying trends.
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