Fundamental Global Eyes $5 Billion Raise to Go All-In on Ethereum

Fundamental Global Inc., now rebranded as FG Nexus Inc., has filed a Form S-3 shelf registration with the U.S. Securities and Exchange Commission, aiming to raise up to $5 billion through the issuance of securities in multiple tranches. Most of the proceeds are earmarked for acquiring Ethereum (ETH), marking a bold strategic shift in the company’s treasury policy. The flexible structure—including an at-the-market agreement for up to $4 billion—allows the firm to deploy capital as market conditions evolve.
This initiative builds on a prior move in late July 2025, when FG Nexus raised $200 million in a private placement consisting of 40 million prefunded common stock warrants at $5 each. Backers include major names in the cryptocurrency and investment sector, and these funds are already being put toward the firm’s Ethereum treasury strategy.
The market reacted positively, with FG Nexus’s shares surging in after-hours trading as investors welcomed its Ethereum-focused pivot. The company has indicated that it aims to hold a sizable position in Ethereum—possibly targeting up to 10 percent of the network—further cementing ETH’s role as a strategic treasury asset.
Industry analysts see this move as a major step toward mainstream acceptance of Ethereum within traditional finance, with price forecasts in the $5,100 to $6,200 range if institutional momentum continues.
In summary, FG Nexus’s $5 billion shelf offering signals a pivotal moment in corporate digital-asset strategies. By aligning its treasury with Ethereum exposure, the firm is demonstrating strong confidence in the long-term value and institutional appeal of ETH.