Publicly traded company Mill City raises $450 million to establish the first SUI encryption treasury, with holdings of 76.3 million coins leading the way.

Public company Mill City Ventures III, Ltd. announced the completion of a $450 million private sale financing, and based on this, acquired 76.3 million SUI tokens (average cost $3.6389), becoming the first company endorsed by the Sui Foundation to be publicly listed and to establish a dedicated encryption asset reserve strategy. Its total SUI holdings are worth over $277 million, making it the largest institutional holder in the public market, operated by Galaxy Digital Asset Management, with top institutions such as Pantera and Electric Capital participating.

Public company Mill City establishes SUI strategic reserves

Investment company Mill City Ventures III, Ltd. successfully acquired 76.3 million SUI Tokens after completing a private sale financing of up to $450 million. This move makes it the world's first publicly listed company to launch a digital asset reserve strategy backed by the Sui Foundation.

1. Cooperation Launch: Obtaining equivalent allocation from the Sui Foundation According to the official press release on July 31, Mill City has partnered with the hedge fund Karatage to advance this plan and has received equivalent investment support from the Sui Foundation to jointly launch this innovative Crypto Treasury Strategy.

2. Holdings Details: Create High Liquidity Entry Mill City has acquired SUI assets at an average price of 3.6389 USD and has now placed them in a Public Wrapper for holding. This structure aims to provide Daily Liquidity for retail and institutional investors, reducing the threshold for traditional institutional investors to enter the SUI ecosystem.

3. Institutional Entry into the SUI Ecosystem Begins Mill City's reserves currently hold over $277 million worth of SUI and plan to continue accumulating through over-the-counter (OTC) and public market purchases. This strategy allows investors to gain Direct Exposure to Sui Network through a listed entity, making Mill City a unique gateway for capital market participants to access SUI.

4. Luxury team and top institution endorsement This transaction is led by Karatage co-founders Marius Barnett and Stephen Mackintosh, both of whom have joined Mill City as Chairman and Chief Investment Officer, respectively. The Treasury Operations for encrypted assets are supervised by Galaxy Digital Asset Management. Other major participating institutions include top venture capital firms Pantera Capital, Electric Capital, ParaFi Capital, and Big Brain Holdings, showcasing institutional confidence.

5. SUI Positioning: Targeting Mainstream Applications of Layer 1 SUI is regarded as a blockchain designed specifically for Mainstream Use, with its early institutional appeal already evident in the fields of stablecoins, gaming, and AI applications. Mill City has been able to deeply participate in the network development roadmap through its collaboration with the Sui Foundation, while also building the Largest Institutionally Managed SUI Position in the public market.

"Our SUI strategy is not just about passive Holdings of Tokens, but also about actively collaborating with the ecosystem to maximize long-term value creation," emphasized Mackintosh.

6. Market Landscape: Mill City's Holdings Lead the Industry Mill City's current SUI Holdings have significantly surpassed those of other publicly listed companies involved in SUI. DeFi Technologies holds 4.91 million SUI (approximately worth 17 million USD), while Lion Group's reserves include 1.01 million SUI (approximately worth 3.09 million USD). Mill City has established a market-leading position with its Massive Institutional SUI Reserve.

7. Significance of the Model: Defining a New Standard for Institutional SUI Treasury The Crypto Treasury Model of Mill City relies on the growing market interest in SUI as the Next-Gen Layer 1 blockchain — it has scalable infrastructure, and the development team originates from Meta's Diem project (formerly Libra). With the support of the Sui Foundation and the participation of top asset management institutions, Mill City’s move is expected to set an industry benchmark for future Institutional SUI Treasuries.

Conclusion: Mill City, by establishing the first publicly listed company crypto treasury supported by the Sui Foundation, not only provides an innovative path for traditional capital markets to gain compliant access to the SUI ecosystem, but its large-scale Holdings and luxurious partnership lineup further highlight the institutional confidence in SUI as a high-performance Layer 1 in the long term. This move may accelerate the inflow of institutional capital and reshape SUI's position in the public chain competitive landscape.