Story Foundation, the non-profit organization supporting the $IP token ecosystem, announced plans on September 22, 2025, to purchase up to $7 million of common stock in IP Strategy (Nasdaq: IPST). The acquisition is set to occur via open market transactions.
According to the foundation, the move is a response to the publicly traded company’s stock being “significantly undervalued” relative to its assets, which include over half a billion dollars in $IP tokens.
IP Strategy’s financial structure is closely linked to the Story ecosystem. The company, which recently underwent a rebranding approved by shareholders, holds over 53 million $IP tokens in its treasury. As of September 19, these holdings were valued at approximately $560 million, making the token its primary asset. This support would allow traditional investors to gain exposure to the $IP ecosystem without purchasing it directly, entering indirectly into the digital world.
The Story Foundation justified the stock purchase by pointing to IP Strategy’s market valuation. In its official announcement, the foundation stated the company’s stock was trading at just 0.35 times its multiple of net asset value (mNAV). “We are confident in IP Strategy’s mission and well-positioned for future growth,” said Matt Shaw, a director at the Story Foundation.
According to the foundation, the purchase serves as both a long-term strategic investment and a signal to public market investors about the value of the company’s underlying token reserves.
Blurring the lines between crypto ecosystems and public equities
This development is part of a larger trend where digital asset projects engage with traditional finance, or TradFi, to build legitimacy and access a wider investor base. Such models can offer a regulated and transparent vehicle for investors who may be hesitant to hold crypto assets directly.
However, this strategy also introduces complexities and risks, since IP’s stock price could become attached to their token. Furthermore, these arrangements may attract increased regulatory as this connections between decentralized ecosystems and public equities are becoming more common
Story Foundation’s plan to purchase IP Strategy stock is an example of the growing integration between crypto ecosystems and traditional stock markets. The move aims to correct what the foundation sees as a market undervaluation but also reinforces a new model for gaining public market exposure.
Moving forward, market observers will be watching how the stock purchase impacts IPST’s valuation and whether other crypto foundations adopt similar strategies. This initiative represents a novel, and potentially complex, bridge between two very different financial worlds.
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