press release<\/a>, Mill City partnered with hedge fund Karatage and received an equivalent investment from the Sui (SUI) Foundation to kick off the initiative. <\/p>\nThe firm\u2019s new SUI holdings, acquired at an average price of $3.6389, are now held in a public wrapper offering retail and institutional investors daily liquidity.<\/p>\n
Institutional access to Sui begins<\/h2>\n
Mill City\u2019s treasury now holds over $277 million in SUI and plans to continue accumulation through over-the-counter and open market purchases. The strategy allows investors to gain direct exposure to the Sui network via a listed vehicle, positioning the firm as a unique access point for capital markets participants.<\/p>\n
<\/p>\n
The deal was led by Karatage co-founders Marius Barnett and Stephen Mackintosh, who have joined Mill City as chairman and chief investment officer, respectively. Galaxy Asset Management will oversee the treasury\u2019s operations, while other major participants include Pantera, Electric Capital, ParaFi, and Big Brain Holdings.<\/p>\n
Sui is viewed as a blockchain built for mainstream use, with early institutional traction in stablecoins, gaming, and AI applications. Mill City\u2019s collaboration with the foundation allows it to align with the network\u2019s roadmap while building the largest institutionally managed SUI position on public markets.<\/p>\n
\u201cOur Sui strategy is about more than passively holding tokens; it\u2019s about actively partnering with the ecosystem to maximize long-term value creation,\u201d said Mackintosh.<\/p>\n
Competitive positioning and SUI momentum<\/h2>\n
Mill City\u2019s SUI holdings now exceed those of DeFi Technologies and Lion Group, two other listed firms with notable Sui allocations. DeFi Technologies holds 4.91 million SUI, valued at about $17 million, while Lion Group\u2019s reserve includes 1.01 million SUI worth $3.09 million.<\/p>\n
The treasury model builds on growing interest in Sui as a next-generation layer 1 with scalable infrastructure and a developer base originating from Meta\u2019s Diem project. With foundational backing and top-tier asset managers involved, Mill City\u2019s move could establish a standard for future institutional SUI treasuries.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
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