Ethereum News Today: As Ethereum Slumps, FG Nexus Doubles Down on Share Buybacks and Digital Asset Strategy

FG Nexus (Nasdaq: FGNX, FGNXP) has sold 10,922 Ethereum (ETH) tokens to fund a $200 million common share buyback program, according to a shareholder update released on November 20, 2025. The company, which holds over 40,000 ETH in its treasury, has repurchased 3.4 million shares at an average price of $3.45 per share, leveraging the proceeds from the ETH sale to accelerate the buyback. As of November 19, 2025, FG Nexus reported $37 million in cash and USDC holdings, with total debt rising to $11.9 million.

The move aligns with the company's broader strategy to streamline operations and focus on digital asset treasury management and tokenization of real-world assets (RWA). FG Nexus has also partnered with Securitize to tokenize its shares and announced plans to divest its remaining reinsurance business and Quebec real estate holdings. CEO Kyle Cerminara emphasized that the buyback, executed at a discount to the firm's net asset value (NAV), aims to enhance per-share metrics as the company's ETH holdings appreciate.

Ethereum's recent price performance has added urgency to the strategy. The cryptocurrency has fallen 2.17% to $3,004.34, marking its worst five-day decline since November 6, 2025. Analysts note that Ethereum's drop below key moving averages and its 39% pullback from its August peak underscore the broader crypto market's bearish sentiment. Despite this, FG Nexus's decision to deploy ETH treasury gains into share repurchases reflects confidence in the long-term value of its digital assets.

The company's actions have been mirrored by other executives in the sector. Christopher Blunt, CEO of F&G Annuities recently purchased $149,400 worth of his company's shares, signaling optimism in the market's recovery. Meanwhile, broader industry trends highlight growing interest in tokenized assets, with firms like Aurelion positioning tokenized gold as a hedge against crypto volatility. The mutual fund sector is also evolving, as seen in the launch of the Ether ProFund (ETHFX), the first U.S. mutual fund targeting ether performance.

FG Nexus faces risks tied to ETH price fluctuations, which could impact its balance sheet and net income under U.S. GAAP accounting rules. However, the company's strategic pivot to digital asset management and RWA tokenization aims to diversify revenue streams and reduce reliance on traditional assets. With 40.1 million shares outstanding and a net asset value per share of $3.94, the firm's buyback program could further narrow the gap between its stock price and intrinsic value.