Tron Inc., the newly rebranded Nasdaq-listed entity born from a reverse merger with SRM Entertainment and affiliated with Justin Sun’s blockchain project, is seeking to raise up to $1 billion to deepen its holdings of TRON (TRX), signaling one of the largest crypto treasury expansions outside of Bitcoin to date. The move comes as the company’s stock continues to surge, rising over 1,300% since mid-June, and reflects a growing trend of public firms integrating crypto assets into their corporate treasury models.
The capital raise, outlined in a recent Form S-3 filing with the U.S. Securities and Exchange Commission (SEC), marks an aggressive pivot by Tron Inc. toward long-term TRX accumulation and could further entrench TRON’s role as a foundational asset within emerging corporate crypto treasuries.
In the S-3 registration statement filed with the SEC, Tron Inc. disclosed its intent to raise up to $1 billion through a flexible combination of common stock, preferred stock, debt securities, warrants, and rights. The offering may be issued in one or more tranches and at different times, depending on market conditions and capital needs.
The stated purpose is clear: expand the company’s TRX treasury holdings, which already exceed 365 million TRX tokens - valued at over $110 million at current prices - accumulated since the reverse merger finalized in June.
“We view our TRX token holdings as long-term strategic assets,” the company noted in the filing. “We expect to continue to accumulate TRX tokens over time as part of our corporate treasury strategy.”
This declaration places TRX at the center of Tron Inc.'s long-term value proposition, positioning the company not merely as a blockchain affiliate or investment vehicle, but as a crypto-native treasury firm focused on decentralized ecosystem assets.
Stock Surges 1,300% Amid Rebranding and Market Frenzy
Since the reverse merger with SRM Entertainment was completed on June 10, Tron Inc. shares have undergone a staggering transformation. Once trading as a penny stock under $1, shares closed above $11.80 on July 29 - up more than 1,300% in just seven weeks.
The latest surge came after news of the $1 billion funding plan broke, with shares climbing 23% on Monday alone, according to Yahoo Finance. The company’s market capitalization now exceeds $200 million.
This speculative frenzy reflects investor enthusiasm not only around TRON’s blockchain potential but also the broader trend of crypto-treasury alignment, reminiscent of the early MicroStrategy days when Michael Saylor began converting corporate reserves into Bitcoin.
From Penny Stock to Crypto Treasury Player: Background and Strategy
Originally known as SRM Entertainment, the company operated in the traditional entertainment sector before pivoting aggressively into blockchain following a reverse merger with entities linked to TRON founder Justin Sun.
In its previous filings, Tron Inc. had targeted a TRX reserve of up to $210 million, and had already raised $100 million in equity to support those ambitions. The new $1 billion funding plan more than quadruples that vision, signaling an intent to become the largest corporate TRX holder in the market.
In its current structure, Tron Inc.’s treasury strategy is designed to hold a diversified mix of:
- TRX tokens
- Cash and cash equivalents
- Short-term market instruments
The emphasis, however, remains on TRX accumulation - a departure from the standard crypto treasury model that has focused almost exclusively on Bitcoin.
A New Era of Crypto Treasury Strategies Emerges
Tron Inc.'s TRX-focused treasury strategy is part of a broader trend that’s reshaping corporate finance in 2025: the use of public company balance sheets to accumulate crypto assets as reserve stores of value or strategic bets on blockchain ecosystems.
Although Bitcoin still dominates this movement, newer entrants are expanding the scope.
Global Snapshot of Crypto Treasuries as of July 28, 2025:
- Bitcoin (BTC): 923,327 BTC held by public companies, led by MicroStrategy, Marathon Digital, and Hut 8.
- TRX: Over 365 million TRX held by Tron Inc., with plans to scale significantly.
- BNB: A $100 million fund raised by former Coral Capital Holdings executives to establish a BNB-focused treasury.
Other initiatives:
- Metaplanet (Japan): Added 780 BTC this week, bringing its holdings to 17,132 BTC.
- Satsuma Technologies (UK): Raised $135 million to buy Bitcoin for a UK-based BTC treasury.
- Bitcoin Treasury Corporation (Canada): Raised $92 million and plans to relist on the Toronto Stock Exchange.
These moves are reshaping the treasury playbook, previously dominated by traditional fiat, equities, and commodities. Now, companies are staking their futures — and their capital structures — on programmable money and crypto-native assets.
Why TRX, and Why Now?
Tron Inc.'s bet on TRX reflects both strategic alignment and macro opportunity. TRON’s blockchain has grown into one of the most active Layer-1 networks globally, especially in Asia, with billions of dollars locked in DeFi, and major stablecoin volume flowing through USDT on TRON.
Key fundamentals supporting the TRX accumulation thesis:
- TRON’s dominance in stablecoin transfer volume, particularly USDT, gives the network strong usage metrics.
- Robust staking and validator incentives create consistent yield opportunities, which may be factored into treasury strategies.
- Low fees and high throughput make TRON a favorable platform for emerging decentralized applications.
Additionally, TRON has maintained a relatively neutral regulatory stance globally, unlike tokens such as XRP or BNB, which have seen more aggressive scrutiny in the U.S. This may provide further strategic insulation for corporate holders like Tron Inc.
Regulatory Considerations and Future Outlook
While Tron Inc. has filed its intentions with the SEC, regulatory scrutiny is expected, especially given the scale of the proposed raise and its connection to a blockchain token. It remains to be seen whether the SEC will raise questions about the nature of TRX holdings, given past enforcement activity toward other altcoins.
Still, if approved, the $1 billion raise could set a precedent for future token-specific treasury models, particularly for public companies linked to blockchain ecosystems.
As corporate crypto adoption deepens, more firms may follow Tron Inc.’s lead - not just by accumulating BTC, but by backing the native tokens of the ecosystems they help build or promote.