NASDAQ-listed Greenlane Holdings announced on October 20 that it has initiated a Digital Asset Treasury (DAT)strategy utilizing Bera (BERA), the native token of Berachain, through a private placement funding round. With this move, the company is set to become the largest publicly listed holder of BERA.
Greenlane revealed that it has entered into a $110 million private placement led by Polychain Capital, with participation from several well-known investors including Blockchain.com and Kraken. The net proceeds from this offering will be allocated to the company’s DAT strategy, with BERA serving as a primary reserve asset.
The transaction is scheduled to close around October 23. Following the closing, Greenlane plans to use the raised capital to acquire BERA tokens through market purchases and over-the-counter (OTC) trades, establishing its treasury management operations. Additionally, part of the proceeds will be used for working capital and other corporate purposes.
Ben Isenberg, who is slated to become Chief Investment Officer of the Bera-focused treasury arm “BeraStrategy,”commented:
“We believe Bera’s key differentiator lies in its source of yield. Unlike traditional proof-of-stake (PoS) chains such as Ethereum (ETH) or Solana (SOL), Bera’s yield stems from the monetization of block rewards. There is still untapped potential for institutional adoption of Berachain. By introducing the Bera brand — already one of the most recognized among crypto natives — to traditional capital markets, we aim to expand its exposure and influence.”
Jonathan Ip, Chief Legal Officer of the Berachain Foundation, added:
“We are excited to collaborate with this talented, forward-thinking team on developing a strategic treasury initiative. BeraStrategy represents an important step toward deepening Berachain’s integration with capital markets and institutional investors. Their strong commitment to our ecosystem — along with experience across traditional finance, crypto markets, and the retail community — will be instrumental in broadening BERA’s reach and impact.”
