Key Highlights
- FG Nexus is selling its ETH holdings after aggressively buying 50,770 ETH for $196 million in August-September 2025 at an average $3,860 per token.
- This latest market condition leaves GF Nexus digesting a total loss of $82.8 million on the original investment, as ETH has tested multi-month lows and fallen sharply overall, turning their “Ethereum Standard” treasury bet into a painful underwater position.
- The corporate sell-off coincides with Ethereum co-founder Vitalik Buterin offloading roughly 17,000 ETH (~$43 million) throughout February 2026, with his tracked wallets dropping from ~241,000 ETH to 224,000 ETH.
FG Nexus, the Nasdaq-listed outfit that went all-in on Ethereum as its core treasury play, just flipped the script hard. What started as a bold 2025 push to stack Ethereum (ETH), snapping up 50,770 tokens for $196 million at an average $3,860, has turned into steady selling during one of the roughest stretches for the asset.
Citing Arkham data, on-chain data tracking platform Lookonchain noted that the firm sold 7,550 ETH for $14 million. The Ethereum treasury company started selling ETH in the past month and has offloaded approximately 21,025 ETH ($55.7M) at an average price of roughly $2,649.
Back in August and September 2025, the firm pushed its “Ethereum Standard” vision and talked openly about liquidating property to double down on more ETH accumulation. No property sales got announced, though, and by late 2025 the outflows kicked in, including bigger chunks routed to Galaxy earlier.
Currently, onchain data shows that they hold 30,094 ETH, worth approximately $57.5 million, digesting a total loss of $82.8 million on their total investment.
At the time of publishing, ETH was trading near $1,915, up 4.87% in the past 24 hours, as per CoinMarketCap data.
Vitalik Buterin’s parallel ETH moves
The news comes in time when Ethereum developer and Co-Founder Vitalik Buterin has been catching market wide attention from the crypto community, with him continually selling ETH from his holdings.
Vitalik Buterin has dumped roughly 17,000 ETH this month, worth about $43 million, after flagging in January that he has liquidated a similar chunk to back privacy tech, open-source tools, and security projects.
Arkham-tracked wallets show his balance dropping from around 241,000 ETH to 224,000 ETH through February. His sales rolled out gradually via CoW Protocol in smaller batches to avoid slamming the order book, but they have overlapped with ETH’s 37% slide over the past month.
While Vitalik’s moves fund ecosystem work during the Foundation’s “mild austerity” phase, the timing hits sentiment when prices are already soft.
Also read: Tron Hits 994M Transactions in Q4 2025 with Flooding On-Chain Activity
