Fundamental Global has formally submitted a shelf registration on Form S-3 to the U.S. Securities and Exchange Commission seeking to raise up to $5 billion through a securities offering. The bulk of these funds will be allocated toward acquiring Ethereum (ETH) as a primary treasury asset, signaling a strategic shift in corporate treasury management.
The company’s common stock trades under ticker symbol ‘FGF’ on the Nasdaq Global Market, with Series A preferred shares listed as ‘FGFPP’. Initial securities sales face market constraints limiting offerings to approximately $10.67 million until non-affiliate share valuations exceed $75 million.
This acquisition strategy positions Ethereum as a foundational treasury reserve alongside Bitcoin, citing ETH’s critical role in decentralized applications and Web3 ecosystems. The filing reflects accelerating institutional interest in integrating crypto-assets into corporate financial frameworks and marks a significant evolution in treasury diversification approaches.