On August 10, Ethereum (ETH) 
$3,094, the largest altcoin, surpassed $4,330, marking the first time since the end of the 2021 bull cycle that it reached this level again. This upward move prominently features the role of institutional treasury strategies. Recently, Nasdaq-listed Fundamental Global, soon to be known as FG Nexus, announced its plan to file a $5 billion “shelf registration” with the SEC on August 8 to fund its Ethereum accumulation strategy. The company aims to acquire an amount equivalent to 10% of the total ETH supply.
FG Nexus’s Ambitious $5 Billion Ethereum Strategy
According to the official announcement, FG Nexus has created a comprehensive securities framework to position Ethereum as a corporate treasury asset. The SEC filing includes an “at-the-market” (ATM) offering prospectus authorizing up to $4 billion in direct public share sales. This flexible structure allows for phased funding and ETH acquisition when market conditions are favorable. The remaining $1 billion capacity can be utilized through preferred shares, debt, or other securities.
The company’s ultimate goal is to control 10% of Ethereum’s total supply. This target would position FG Nexus as one of the largest institutional Ethereum investors globally. Compared to BitMine’s $3.5 billion and SharpLink’s $2.2 billion ETH holdings, the planned accumulation provides a significant reference framework in the crypto treasury programs.
ETH Price, Funding, and Technical Outlook
The ETH price surpassing $4,300 aligns with recent narratives around institutional treasury activities. Coinglass data shows a 320% increase in futures market funding rates, rising from 0.0024% on August 7 to 0.012% at the time of writing. Funding represents the periodic fee exchanged between leveraged long and short positions, and the rate increase indicates that short-term longs maintain their bullish expectations despite rising costs.
Ethereum’s technical outlook also looks strong. The daily chart indicates that a close above $4,330, with the price maintaining above the upper Bollinger Band, boosts trend momentum. The mid-band, representing the 20-day moving average, hovers around $3,765. The expanding positive histogram in the MACD reinforces the bullish trend. In the short term, buyers are eyeing a breakthrough at $4,600, with $3,950 as the nearest support level. Falling below this point highlights the second defensive barrier at $3,765, corresponding to the 20-day average.
At the time the news was prepared, Ethereum was trading at $4,296, marking a 1.77% rise within the last 24 hours, according to data from CryptoAppsy.
