FG Nexus Files $5B ETH Shelf Registration as Ethereum Surges Past $4,330
Institutional investor FG Nexus (formerly Fundamental Global) has filed a $5 billion shelf registration with the US SEC to acquire up to 10% of Ethereum’s circulating supply. The prospectus authorizes $4 billion in at-the-market common stock sales and $1 billion via preferred shares or debt, enabling phased ETH accumulation when market conditions are favorable. Following the announcement, ETH broke above $4,330—the highest level since late 2021—consolidating above the upper Bollinger Band and accompanied by a rising MACD histogram. Key support zones lie at $3,950 and $3,765, while futures funding rates have spiked (up 316% over three days), underscoring strong bullish sentiment. This institutional strategy is poised to boost demand and drive momentum toward a $4,600 breakout.
Bullish
The SEC filing by FG Nexus for a $5 billion ETH shelf registration signals large-scale institutional accumulation, directly increasing long-term demand for Ethereum. The technical breakout above $4,330—confirmed by a close above the upper Bollinger Band and a rising MACD histogram—alongside sharply higher futures funding rates (316% surge over three days) reflects strong short-term bullish momentum. Together, these factors point to sustained upward pressure, with traders likely targeting a $4,600 breakout while monitoring support at $3,950 and $3,765.