Nasdaq-listed Fundamental Global announces ETH treasury as it rebrands to FG Nexus

Nasdaq-listed Fundamental Global is rebranding as FG Nexus as it embraces Ethereum as its core treasury asset.

On July 30, which was also Ethereum’s 10th anniversary, the North Carolina-based firm announced a sweeping strategic shift aimed at aligning itself with the growing trend of corporate adoption of digital assets, particularly Ether (ETH).

Fundamental Global has outlined its intention to adopt Ethereum as its primary treasury reserve asset. To support this move, the company launched a $200 million private placement through the issuance of 40 million prefunded common stock warrants priced at $5 each.

Once completed, the proceeds will be used to purchase ETH and implement a comprehensive treasury management strategy that includes staking and yield-generating opportunities across Ethereum’s decentralized financial ecosystem.

Among the firms backing FG Nexus’s Ethereum pivot are Galaxy Digital and Kraken, not only as investors, but also as key infrastructure partners. Galaxy will oversee treasury management and yield execution, while Kraken will handle staking operations and on-chain support.

Other participants in the private placement include Hivemind Capital, Syncracy Capital, Digital Currency Group, and Kenetic.

Rebranding to FG Nexus

As part of the latest treasury pivot, Fundamental Global will rebrand itself as FG Nexus, a move the company says reflects its new strategic orientation toward Ethereum and decentralized finance. The company will also begin trading under updated ticker symbols FGNX and FGNXP.

The rebranding is not merely cosmetic. According to a statement shared by the company, FG Nexus intends to operate as a vehicle that bridges traditional financial infrastructure with Ethereum’s ecosystem.

Its stated objective is to provide shareholders exposure not only to ETH’s price movements but also to the broader utility of Ethereum as a programmable settlement layer for digital assets, stablecoins, and tokenized real-world assets.

To oversee this transition, the company has also introduced a new leadership team with experience in both traditional finance and the crypto sector.

FG shares plummet

Before markets opened on July 30, investors pushed the stock up 76.66% to $38.00 in a surge that reflected early optimism around the company’s new direction.

Yet by market close, a degree of uncertainty was evident among shareholders. FG stocks had lost ground, ending 13.7% lower at $18.57, according to Google Finance data, possibly due to the scale of the transition and concerns over the company’s weak financials.

Nevertheless, the company is joining a growing cohort of firms adopting Ethereum as a strategic treasury asset. Over the past month, companies like BitMine Immersion Technologies, SharpLink Gaming, and 180 Life Sciences (soon to rebrand as ETHZilla) have all disclosed substantial ETH allocations as part of broader crypto treasury strategies.