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FG Nexus Sells 10,922 ETH to Repurchase Stock Below NAV

The sale signals a pivot from building its Ethereum hoard to financing a $200 million buyback with new leverage.

Ether treasury firm fg nexus unloads nearly 11k eth to fund share buyback
10,922 eth sold: fg nexus adds its name to the dats selling digital assets

Overview

  • FG Nexus sold 10,922 ETH worth roughly $32–33 million and borrowed $10 million to repurchase about 3.4 million shares, approximately 8% of the float.
  • The buybacks averaged $3.45 per share versus a reported net asset value of $3.94, and management says repurchases will continue while the discount persists.
  • Post-transaction, the company reports holdings of about 40,005 ETH and $37 million in cash and USDC, with total debt at approximately $11.9 million.
  • The move tracks a broader sector shift as ETHZilla disclosed selling around $40 million in ETH in October to fund its own buybacks.
  • Markets saw a brief reaction with ETH down about 2% and Bitcoin off roughly 1% before partial recovery, while FGNX shares remain sharply lower from prior highs.