$5 Billion for Ethereum (ETH)? Fundamental Global Files Massive Shelf Offering
- Fundamental Global Inc. has filed a shelf registration with the SEC.
- The asset manager plans to acquire $5 billion worth of ETH.
- The firm’s potential investment will dwarf the current Ethereum treasuries.
U.S. asset manager Fundamental Global Inc. has filed for a $5 billion shelf offering with the SEC, and it intends to use the proceeds to acquire a massive position in Ethereum.
Flexible Filing with a Clear Target: Ethereum
While the Form S-3 filing is a broad “shelf registration” that gives the firm flexibility to sell various securities, including common stock and warrants, the company has indicated the proceeds will be allocated toward its recently announced Ethereum treasury strategy.
However, it has yet to specify a timeline for the move, which many crypto analysts consider a potential boost to Ethereum’s demand.
In the meantime, Fundamental Inc. has a running Ethereum strategy, which was disclosed in July. According to the investment firm, it has earmarked $200 million in private placement for acquiring ETH, staking, and participating in decentralized finance to maximize Ethereum per share.
Why the big move? Fundamental Global is joining…
The post $5 Billion for Ethereum (ETH)? Fundamental Global Files Massive Shelf Offering appeared first on Coin Edition.
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$5 Billion for Ethereum (ETH)? Fundamental Global Files Massive Shelf Offering
- Fundamental Global Inc. has filed a shelf registration with the SEC.
- The asset manager plans to acquire $5 billion worth of ETH.
- The firm’s potential investment will dwarf the current Ethereum treasuries.
U.S. asset manager Fundamental Global Inc. has filed for a $5 billion shelf offering with the SEC, and it intends to use the proceeds to acquire a massive position in Ethereum.
Flexible Filing with a Clear Target: Ethereum
While the Form S-3 filing is a broad “shelf registration” that gives the firm flexibility to sell various securities, including common stock and warrants, the company has indicated the proceeds will be allocated toward its recently announced Ethereum treasury strategy.
However, it has yet to specify a timeline for the move, which many crypto analysts consider a potential boost to Ethereum’s demand.
In the meantime, Fundamental Inc. has a running Ethereum strategy, which was disclosed in July. According to the investment firm, it has earmarked $200 million in private placement for acquiring ETH, staking, and participating in decentralized finance to maximize Ethereum per share.
Why the big move? Fundamental Global is joining…
The post $5 Billion for Ethereum (ETH)? Fundamental Global Files Massive Shelf Offering appeared first on Coin Edition.
Read More