Nasdaq-Listed Mill City Ventures Raises $450M to Build SUI Treasury, Signaling Institutional Altcoin Adoption

Mill City Ventures III, a Nasdaq-listed financial firm specializing in small business lending, has secured $450 million in private funding to establish a cryptocurrency treasury focused on SUI. This strategic move highlights increasing institutional interest in altcoins beyond Bitcoin for corporate treasury management.

SUI, the native token of the Sui blockchain network, has risen to become the 15th-largest digital asset by market cap. Mill City's stock (MCVT) jumped 11% on the announcement day, completing a 270% five-day rally driven by its new crypto strategy.

"Sui's technical architecture provides the speed institutions need for crypto at scale while supporting AI workloads without sacrificing security," stated Stephen Mackintosh, Mill City's Chief Investment Officer. The funding round was co-led by Karatage and the sui Foundation, with participation from Galaxy Digital, Pantera Capital, and other major crypto investment firms.