A wallet assigned by Arkham to publicly traded Ethereum treasury company FG Nexus moved another 10,000 Ether on Wednesday, extending a string of sales that began after the company built a immense position in 2025.
Latest move equating to approximately $17.8 million at current prices and follows previous sales in which the Nasdaq-listed company withdrew over 21,000 ETH from its treasury for approximately $55 million.
FG Nexus raised 50,770 ETH between August and September 2025 at an average price of $3,860 per coin, building a position worth approximately $196 million at the time.
With Ether trading near $1,765 at the time of writing, According to according to CoinGecko data, the cryptocurrency has dropped by approximately 54% compared to the average purchase price of FG Nexus of $3,860, representing a loss of over $100 million in the value of the original investment.
According to Yahoo Finance, the FG Nexus share price fell 13.40% pre-market on Thursday, reaching $7.11, down from $8.21 at Wednesday’s close. data.
The wallet associated with FG Nexus carries 10,000. ETH. Arkham Source
Business revealed held approximately 40,093 ETH in December 2025 and has yet to issue a public comment on the Ether sale since these disclosures, with recent transfers identified by onchain data providers not included in subsequent company statements.
Cointelegraph reached out to FG Nexus for comment but did not receive a response via publication.
Institutional holders of ether continue to accumulate
The recent sale of FG Nexus contrasts with the approach taken by other corporate Ether holders who have continued to boost their positions despite the fall in Ethereum’s price.
Related: Ethereum Falls to 14-Week Lows: Can ETH Price Hold Support at 1.8K? USD?
Listed mining company BitMine, the largest publicly traded holder of Ether with over 5.4 million ETH, is strengthening its position, including the recent purchase of approximately $52 million worth of Ether.
On Wednesday, the company also revealed plans to issue dividend-paying preferred stock, expanding the financial tools available to support its Ethereum treasury strategy.
Some analysts also remain hopeful about Ether’s long-term prospects despite its recent needy performance.
Last week, Standard Chartered reaffirmed its long-term Ethereum price target of $40,000, stating that Ethereum network fundamentals are strengthening and pointing to growing onchain activity and continued dominance in decentralized finance.
The bank compared Ethereum’s current position to that of Amazon in its early growth phase, arguing that the asset’s market performance does not yet fully reflect its underlying trends.
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