FG Nexus, formerly known as Fundamental Global Inc. (NASDAQ: FGF), is a publicly listed U.S. company that has transitioned its core business model to focus entirely on Ethereum. With a strategic plan centered around Ethereum accumulation, staking, and tokenized real-world assets, FG Nexus aims to build a blockchain-native treasury that generates active on-chain yield for shareholders.
This shift places FG Nexus among the first public companies to adopt Ethereum as a long-term treasury reserve asset.
Business Model
FG Nexus is building an active Ethereum-based treasury. The company will use investor capital to accumulate ETH, deploy it through staking, and engage with protocols offering tokenized real-world asset exposure. Its strategy focuses on:
Acquiring Ethereum as a core reserve asset
Generating yield through ETH staking
Leveraging tokenized real-world assets to diversify income streams
Offering equity-like exposure to Ethereum with the added advantage of yield generation
This model positions FG Nexus as an alternative to passive Ethereum ETFs and traditional Bitcoin-focused corporate treasuries.
Fundraising Details
In July 2025, FG Nexus completed a significant private placement round:
Total Capital Raised: $200 million
Structure: 40 million pre-funded warrants
Price per Warrant: $5
This fundraise enables the company to execute its Ethereum-first strategy while remaining a publicly listed equity vehicle.
Institutional Investors
FG Nexus secured support from several leading institutional backers in the blockchain and crypto space. Key investors include:
Galaxy Digital
Kraken Ventures
Digital Currency Group
Hivemind Capital
Kenetic Capital
Syncracy Capital
ParaFi Capital
Acrew Capital
Fenbushi Capital
The presence of these well-established investors reflects market confidence in FG Nexus’ strategic vision.
Capital Allocation Plan
The company has outlined a clear plan for deploying the raised capital:
Purchase and hold #Ethereum as a reserve asset
Stake ETH using institutional-grade infrastructure provided by Kraken and Galaxy Digital
Invest $ETH into tokenized real-world asset protocols to enhance yield
Expand internal operations to support treasury, compliance, and governance
By doing so, FG Nexus intends to generate a yield from Ethereum holdings while participating in the growing decentralized finance ecosystem.
Key Execution Partners
FG Nexus has partnered with multiple industry leaders to support its Ethereum strategy:
Galaxy Digital: Oversees treasury advisory and ETH allocation strategy
Kraken: Provides staking infrastructure for ETH and operational support
Syncracy Capital: Facilitates access to tokenized asset protocols
These partnerships ensure security, performance, and scalability for on-chain operations.
Corporate Restructuring
To separate its crypto strategy from legacy operations, FG Nexus created the FG CVR Trust. All non-crypto assets have been transferred to this trust. Shareholders on record as of August 8, 2025, will receive Contingent Value Rights (CVRs).
Initial CVR Payout: Ten dollars per share in September 2025
Future Payouts: Based on monetization of legacy assets held in the trust
This restructuring allows FG Nexus to focus exclusively on Ethereum while returning value from former business units.
Market Reaction
Following the announcement, the company’s stock experienced short-term volatility. However, industry analysts note the move aligns with a broader trend of public companies integrating blockchain strategies and Ethereum-based assets into their balance sheets.
By offering transparent Ethereum exposure with potential yield, FG Nexus distinguishes itself from passive investment vehicles and traditional funds.
Company Summary
Conclusion
FG Nexus is pioneering a new approach to corporate finance by integrating Ethereum directly into its treasury strategy. With strong institutional backing, a clearly defined use of funds, and partnerships with industry leaders, FG Nexus is well-positioned to serve as a model for other public companies seeking blockchain-native exposure.
As @Ethereum continues to expand its role in decentralized finance and institutional markets, FG Nexus may lead the way in showcasing how traditional firms can transition into the digital asset economy.
