Mill City Ventures Makes Historic $277M SUI Treasury Investment

Mill City Ventures has emerged as a pioneer in institutional crypto adoption with its acquisition of 76.3 million SUI tokens. The $277 million strategic purchase, following a $450 million private placement, represents the first public company to base its treasury strategy on Sui Foundation assets.

The tokens were obtained at an average price of $3.6389 through a partnership between Mill City, hedge fund Karatage, and the sui Foundation. This groundbreaking investment vehicle offers daily liquidity—an exceptional feature for institutional crypto exposure—via a publicly traded wrapper available to all investor classes.

Karatage's executive team has moved into leadership positions at Mill City, demonstrating growing convergence between traditional finance and blockchain networks. The company intends to execute additional OTC acquisitions and market purchases to strengthen its SUI position, establishing an innovative connection between capital markets and LAYER 1 blockchain infrastructure.