Ethereum treasury firm FG Nexus has continued trimming its ETH holdings, offloading more than 7,500 ETH in a single transaction.
This latest move extends the company’s Ethereum selling streak that began late last year, despite the firm’s aggressive accumulation strategy in mid-2025. Consequently, the renewed selling pressure has reignited debate over institutional confidence in Ethereum, the world’s second-largest cryptocurrency.
Key Points
- FG Nexus extended its Ethereum selling spree yesterday, offloading 7,550 ETH in a single transaction.
- Although the company initially planned to expand its ETH holdings last year, it later reversed course and began trimming its position.
- Despite the latest sale, FG Nexus still holds more than 37,000 ETH in its portfolio.
- High-profile entities, specifically Ethereum co-founder Vitalik Buterin, have sold thousands of ETH over the past few weeks.
FG Nexus Sells 7,550 Ethereum
Earlier today, FG Nexus sold 7,550 ETH worth $14.06 million. Citing Arkham data, the blockchain analytics platform Lookonchain reported that the company transferred the tokens to Galaxy Digital in a single transaction. Notably, this sale follows a broader liquidation trend that sharply contrasts with FG Nexus’s earlier bullish stance.
Initially, the firm pursued an aggressive accumulation strategy, aiming to build a sizable Ethereum treasury. Between August and September 2025, FG Nexus acquired 50,770 ETH for $196 million at an average price of $3,860, according to Lookonchain.
From Accumulation Strategy to Liquidation
Weeks after the October 10 crypto market crash, the company doubled down, announcing plans to sell property assets to fund further ETH purchases. However, as the market downturn deepened, FG Nexus swiftly reversed course.
Less than a month after its expansion announcement, the firm began liquidating its holdings, selling 21,025 ETH for $55.7 million. It has now executed another 7,550 ETH sale, further extending its exit streak. Despite these significant disposals, FG Nexus still holds 37,594 ETH, valued at approximately $73.62 million at press time.
This abrupt pivot from accumulation to liquidation underscores the risks of aggressive treasury strategies in volatile markets. With Ethereum trading well below its $3,860 average purchase price, FG Nexus currently faces an unrealized loss of over $70 million, highlighting the financial strain from prolonged bearish conditions.
Broader Sell-Off?
Meanwhile, FG Nexus’s ongoing sell-off coincides with broader concerns about declining institutional conviction in Ethereum. For instance, Trend Research, another Ethereum treasury firm, recently launched a massive liquidation campaign to repay debt, ultimately dumping its remaining 651,757 ETH on Binance on February 8.
Similarly, BitMEX co-founder Arthur Hayes has executed substantial ETH sales, recently transferring 1,000 ETH to Bybit as part of a broader shift into high-quality DeFi assets.
Ethereum Co-Founder Vitalik Buterin Sells 11,422 ETH
At the same time, Ethereum co-founder Vitalik Buterin has also reduced his ETH exposure to support open-source development. He pledged to sell 16,384 ETH and has already liquidated 11,422 ETH, including a 675 ETH sale yesterday.
vitalik.eth(@VitalikButerin) sold another 675.88 $ETH($1.25M) in the past 9 hours.
In the past month, he has sold 11,422 $ETH($23.33M) in total.
His plan was to sell 16,384 $ETH.
About 70% is done.
There are still 4,962 $ETH($9.5M) left to sell.https://t.co/pMvkZHjIyD pic.twitter.com/JgNY82yAhX
— Lookonchain (@lookonchain) February 25, 2026
These developments reflect mounting selling pressure and intensifying scrutiny of Ethereum’s near-term outlook, even as long-term adoption narratives remain intact.
Meanwhile, other treasury firms such as Bitmine have maintained strong confidence in ETH, steadily accumulating the asset in pursuit of a 5% supply stake. This week, the company acquired an additional 51,162 ETH, increasing its total holdings to 4,422,659 ETH (4.42 million).
Tom Lee(@fundstrat)’s #Bitmine bought another 51,162 $ETH($98.33M) last week and now holds 4,422,659 $ETH($8.5B).
The average cost is ~$3,821.
At current prices, this position is down nearly $8.4B.https://t.co/FvnCMQVO0Q pic.twitter.com/IxHeU3y9O1
— Lookonchain (@lookonchain) February 23, 2026
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