FG Nexus (NASDAQ: FGNX) shares barely moved Tuesday, on word the Charlotte, North Carolina-based Ethereum company announced that its ETH position reached the 50,000 milestone on Monday, September 22. The Company implemented its ETH Treasury strategy in August and has continued to add to its position over the past month as part of Company’s strategic plan to become the largest ETH holder in the Ethereum network.
The Company’s 50,000 ETH position represents approximately $210 million in aggregate value (assuming $4,200 price of ETH per Bloomberg as of 5:00pm ET on Monday, September 22). The Company’s average ETH purchase price is approximately $3,860.
"This acquisition marks a pivotal step in our mission to become the premier institutional holder of Ethereum, reflecting our strong conviction that ETH will reshape the future of global finance," said Maja Vujinovic, CEO of Digital Assets, FG Nexus.
“FG Nexus is on the Ethereum Standard,” this morning’s news release states further, “and singularly focused on becoming the largest corporate holder of ETH in the world by an order of magnitude. In order to enhance its ETH YIELD, the Company will stake and restake, serving as a strategic gateway into Ethereum-powered finance, including tokenized RWAs and stablecoin yield.”
FGNX shares dipped five cents to $6.72.
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