FG Nexus raised $200M through prefunded warrants to fund an ether-based treasury and staking strategy.
Strategic partners include Galaxy Digital and Kraken, who will support treasury management and staking operations.
New ticker symbols FGNX and FGNXP are expected after the offering closes around August 1.
FG Nexus, formerly known as Fundamental Global, has entered the digital asset market with a $200 million capital raise. The company announced the launch of an ether-focused treasury strategy backed by several major crypto investment firms. This move coincides with Ethereum’s 10-year anniversary and signals FG Nexus' commitment to building a long-term ETH reserve.
$200 Million Raised Through Prefunded Warrants
The $200 million was raised through a private placement involving 40 million prefunded warrants, each priced at $5. Strategic investors participating in the raise include Galaxy Digital, Kraken, Hivemind Capital, Syncracy Capital, Digital Currency Group, and Kenetic. The company stated that the proceeds will fund an ether treasury strategy, with ETH serving as its main reserve asset.
Galaxy Digital will act as a strategic advisor, overseeing treasury and staking infrastructure. Kraken will provide support for staking operations. These partnerships aim to streamline FG Nexus' staking and treasury operations while generating ETH-based rewards. Following the rebrand from Fundamental Global, FG Nexus introduced a leadership team to oversee the digital asset division. Joe Moglia, former CEO of TD Ameritrade and co-founder of Fundamental Global, has joined as an executive advisor.
Maja Vujinovic, an early blockchain investor, will lead the strategy focused on ether accumulation and real-world asset exposure. The company expects new ticker symbols, FGNX and FGNXP, to go live following the closing of the offering, projected for around August 1. These changes mark a formal shift toward a blockchain-based asset reserve model.
Focus on Ether as Primary Treasury Asset
FG Nexus plans to hold ether as its core reserve asset and earn staking yields over time. The company also noted plans to gain exposure to tokenized real-world assets using Ethereum infrastructure. The ether treasury initiative places FG Nexus among other public firms building ETH-focused reserves.
Companies like SharpLink Gaming (SBET), BitMine Immersion (BMNR), and Bit Digital (BTBT) have all launched similar ether treasury strategies this year. These developments reflect growing institutional interest in Ethereum as a settlement and staking platform. In another digital asset adoption development, Singapore-based mining hardware company Canaan announced a new treasury strategy centered on Bitcoin.
Canaan will hold Bitcoin as its primary long-term reserve asset, while also allowing limited acquisition of ether and stablecoins. The company said it would retain bitcoin acquired through operations such as mining and equipment sales. This strategy reflects Canaan's ongoing commitment to bitcoin accumulation through regular business activity.
