# Story's IP Hits ATH After Heritage Distillery Readies DAT Transition

*Author: Bankless*
*Published: Sep 10, 2025*
*Source: https://www.bankless.com/read/storys-ip-hits-ath-after-heritage-distillery-readies-dat-transition*

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Story's IP token reached a new all-time high of $11.75 on Tuesday after Nasdaq-listed Heritage Distilling clarified its plans for an IP token treasury reserve tied to Story Protocol.

### **What’s the Scoop?**
- **Treasury Dashboard Coming:** The company said it would launch a new Treasury Dashboard to provide transparency around its IP holdings, share count, and net asset valuation — part of its broader “IP Strategy” rollout.
- **New Leadership:** CASK appointed Phil Blows of B2 Capital as chief investment officer. It also named potential new board members, including ex-Google exec David Lee and former CoinMarketCap CEO Erick Zhang.
- **Backed by Top Crypto Firms:** In August, Heritage raised $220M through a PIPE deal to fund IP token accumulation. Investors included a16z crypto, Polychain, dao5, Arrington Capital, Hashed, and Selini Capital.

### **Bankless Take:**
Digital Asset Treasuries have become a notable fixture in crypto capital markets throughout recent months. CASK's rally indicates a positive reception to the "IP Strategy" rollout.   

> Introducing IP Strategy: the first publicly listed treasury vehicle centered on [@storyprotocol](https://twitter.com/StoryProtocol?ref_src=twsrc%5Etfw)’s [$IP](https://twitter.com/search?q=%24IP&src=ctag&ref_src=twsrc%5Etfw) token.Heritage Distilling’s (Nasdaq: CASK) IP Strategy offers the first regulated path for public market investors to participate in the $80 trillion intellectual property… [pic.twitter.com/ZXe5ExJKmz](https://t.co/ZXe5ExJKmz)— IP Strategy (Nasdaq: CASK) (@ipstrategy_) [September 9, 2025](https://twitter.com/ipstrategy_/status/1965406462848458987?ref_src=twsrc%5Etfw)
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