Tron Inc. went public through a reverse merger with SRM Entertainment, a Nasdaq-listed entity. Reverse mergers have become an increasingly popular strategy among blockchain-related companies seeking quicker routes to public markets compared to traditional IPOs.

"With Justin Sun joining as our global advisor and our ongoing expansion into blockchain-based treasury assets, this Nasdaq debut underscores our strategic commitment to long-term shareholder value through innovation and decisive leadership," Tron Inc.’s CEO Rich Miller noted in a company statement.

The implications of the merger are clearly visible on the TRON stock chart. The Nasdaq-traded instrument has data dating back to 2023, and currently trades near the $9 level. Notably, the sharp price appreciation was primarily driven by market speculation and rumors about Tron’s forthcoming public debut, first surfacing around mid-June 2025.

TRON Nasdaq Stock PerformanceTRON Nasdaq Stock Performance. Nasdaq.

SRM Entertainment, the entity Tron merged with, rebranded itself as a frontrunner in "integrated blockchain-driven asset management." According to corporate disclosures, it currently holds one of the largest TRX token reserves among publicly traded entities.

Interestingly, TRX token reacted relatively mildly to the Nasdaq listing news. Much of the token’s bullish movement had already occurred in June, propelled by market anticipation of Tron’s potential IPO. Presently, TRX hovers around the $0.31 mark on leading crypto exchanges.

Hourly TRX/USDT Chart on BinanceHourly TRX/USDT Chart on Binance

Meanwhile, Tron’s charismatic founder, Justin Sun, continues to attract attention outside traditional blockchain circles. Sun is confirmed as one of the participants in Jeff Bezos’ upcoming space mission aboard Blue Origin’s New Shepard rocket, further increasing public interest in his blockchain projects.