Following a $450 million private equity raise, Mill City Ventures has created the crypto industry's largest institutional SUI treasury.
The company, known for short-term credit and specialized financing solutions, has allocated 98% of the raised capital to acquire over 76.3 million SUI tokens, at an average purchase price of $3.6389 per token. Mill City Ventures plans to continue expanding its holdings through additional market purchases in the near future.
Prominent crypto firms participated in the funding round, signaling strong market confidence. Galaxy Digital CEO Mike Novogratz highlighted Mill City's strategic move, emphasizing the importance of institutional-grade, liquid digital asset access for investors. At the time of writing, SUI's price has slightly declined, trading at approximately $3.70.
