TON Foundation Targets $400M Treasury Fund for Toncoin Through Public Listing

The TON Foundation has teamed up with Kingsway Capital Partners to create a publicly listed entity focused on holding Toncoin. The initiative aims to secure up to $400 million via a private investment in public equity (PIPE) round, potentially fast-tracking its public launch through a SPAC merger.

Following the announcement, Toncoin's price rose nearly 2%, bucking a broader decline in trading volume. This development highlights institutional trust in structured crypto treasury approaches, marking a strategic shift after the foundation's contentious UAE Golden Visa program.

The planned entity will serve as a dedicated Toncoin treasury, with both organizations co-managing operations. Analysts view this as evidence of increasing institutional appetite for cryptocurrency reserve assets, though the final corporate framework remains undisclosed.