- Nasdaq-listed FG Nexus has expanded its listing to the Deutsche Börse to cater to more clients seeking leveraged and regulatory-compliant exposure to Ethereum.
- The move comes after its successful $200 million fundraise in August to jumpstart its “aggressive” ETH accumulation.
- The company has been maintaining 47,331 ETH in its portfolio since August.
US-headquartered FG Nexus Inc., formerly Fundamental Global Inc. and trading under the ticker FGNX on Nasdaq, is expanding its reach internationally. The publicly traded company announced its listing on the Deutsche Börse in Germany under the ticker LU51 on Wednesday.
A Significant Milestone
FG Nexus considers its Deutsche Börse listing a significant milestone that aligns with its international expansion strategy. According to the institution, the move broadens its accessibility to clients, particularly in the European Economic Area (EEA). Meanwhile, it enhances the company’s access to capital to fuel its exponential growth.
Kyle Cerminara, CEO of FG Nexus, stated that their listing in Germany capitalizes on the rising demand for their Ethereum (ETH)-focused business model. Additionally, he explained that they envision becoming the world’s top holder of the second-largest cryptocurrency by market cap as they build stronger relationships with the European investment community.
Company Profile
FG Nexus provides financial services and asset management solutions. It was founded in 2012 and is headquartered in Charlotte, North Carolina. In August, the company’s transition to a new name marked its initial step toward becoming a premier pure-play Ethereum (ETH) company.
According to a filing at the US Securities and Exchange Commission (SEC), FG Nexus successfully secured a $200 million private placement from a 40 million prefunded common stock offering priced at $5 per warrant. The business used the net proceeds of the fundraise led by investors Galaxy Digital, Kraken, Digital Currency Group, Kenetic, Hivemind Capital, and Syncracy Capital to finance its “aggressive Ethereum acquisition strategy.”
FG Nexus Ethereum Holdings
Onchain analytics firm Coingecko shows that FG Nexus has maintained a balance of 47,331 ETH since August. Its Ether portfolio amounted to $200.115 million upon purchase at an average cost of $4,228 per token.
At last week’s dip to roughly $3,000 per ETH, the company’s holdings fell by over $48 million. Furthermore, the numbers represented a considerable drop from its nearly $37 million unrealized gain at its all-time high of almost $5,000 per ETH, days after its initial Ether buy.
As of Friday, FG Nexus ranked eighth among the world’s top public companies holding Ethereum. BitMine topped the list with a portfolio of 3.4 million ETH.
What’s your Reaction?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
