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08 Aug 2025
Fundamental Global to Establish Ethereum Treasury with 5 Billion Offering
Nasdaq-listed holding company Fundamental Global has officially filed an S-3 registration with the U.S. Securities and Exchange Commission (SEC) to launch a 5 billion shelf offering. The company plans to use the majority of the proceeds to purchase Ethereum (ETH) and establish a dedicated Ethereum treasury, while the remainder will support operational needs.
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Phased Equity Offering Strategy
The company intends to issue shares in phases, allowing for flexibility in size, pricing, and timing based on market conditions. According to the filing, Fundamental Global aims to raise 4 billion from this total offering through an at-the-market (ATM) sales agreement with investment firm ThinkEquity.
> “We may offer and sell shares up to4,000,000,000 of our common stock from time to time through ThinkEquity,” the filing states.
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Strategic Expansion & Rebranding
[08:07, 08/08/2025] Chapt: This move comes shortly after the company raised 200 million via private placement to begin acquiring ETH. Simultaneously, Fundamental Global announced a corporate rebrand to FG Nexus Inc., with plans to update its NASDAQ ticker to FGNX and FGNXP.
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**Targeting 10
CEO Kyle Cerminara revealed the company’s bold vision: to acquire **a 10—
Joining the ETH Treasury Movement
Fundamental Global is the latest among a growing list of firms adopting Ethereum-focused treasury strategies. Others include SharpLink Gaming, BitMine, and Bit Digital.
SharpLink, for instance, recently signed a 200 million purchase agreement with four institutional investors and filed a 6 billion shelf offering, up from its previous1 billion filing, to increase its ETH holdings.
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Market Reaction
- Ethereum (ETH) surged 6% in the 24 hours following the filing.
- Fundamental Global’s stock rose 2% during after-hours trading on Thursday.
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Conclusion
This strategic move highlights a growing trend of Ethereum adoption among public companies, positioning ETH not only as a blockchain platform but as a legitimate treasury reserve asset. As regulatory frameworks evolve and more institutions step in, on-chain finance continues to gain momentum in traditional markets.
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