Greenlane Holdings Announces $110M Private Placement for BERA Token, Boosts Institutional Interest

Greenlane Holdings, a US public company, has announced a $110M private placement to establish a digital-asset treasury on the Berachain network, making BERA its main reserve asset. The funds will be used to acquire BERA from open markets and support general working capital. BERA's price has traded between $1.98 and $2.05 over the past 24 hours, showing a +6% daily gain. The move is expected to bring more institutions to the Berachain network and increase BERA's visibility in the crypto market.

Greenlane Holdings, a US public company, has announced a $110M private placement to establish a digital-asset treasury on the Berachain network, making BERA its main reserve asset. The funds will be used to acquire BERA from open markets and support general working capital. BERA's price has traded between $1.98 and $2.05 over the past 24 hours, showing a +6% daily gain. The move is expected to bring more institutions to the Berachain network and increase BERA's visibility in the crypto market.

Greenlane's announcement, made on October 20, 2023, revealed that the funding round is led by Polychain Capital and includes notable investors such as Blockchain.com, Kraken, CitizenX, dao5, and North Rock Digital. The transaction, expected to close around October 23, consists of $50M in cash and approximately $60M in BERA tokens. The funds will be used to create a BERA treasury, with Ben Isenberg, the incoming Chief Investment Officer at BeraStrategy, highlighting the token's yield source as a key differentiator Greenlane Holdings announced $110M investment in Berachain treasury – BERA price pumped^[1].

The establishment of BeraStrategy represents a significant step for Berachain, as it marks the first time a US public company is creating a Berachain-backed treasury. The move is expected to increase institutional participation and expand BERA's reach and impact. The addition of Chairman Bruce Linton, who led Canopy Growth Corp. to a $15 billion market cap, and Billy Levy, an entrepreneur and capital markets executive, further underscores the strategic importance of this initiative BERA Crypto Treasuries Are Coming: BERA Price Prediction Amid $110m Berachain TradFi Treasury Move^[2].

Ben Isenberg, the incoming Chief Investment Officer at BeraStrategy, believes that BERA's core feature is its yield source, which is fueled by the monetization of its block rewards. This differs from traditional Proof-of-Stake (PoS) chains like Ethereum and Solana, where yields come from base-layer issuance. Jonathan Ip, the General Counsel at Berachain Foundation, described the move as a key step toward engaging capital markets and bringing in more institutions Greenlane Holdings Announces $110M Private Placement for BERA-Focused Crypto Treasury^[3].

The $110M private investment in public equity (PIPE) transaction is composed of $50M in cash and approximately $60M in BERA tokens. Greenlane's common stock will continue to trade on NASDAQ, and the company will emphasize transparency and verification of holdings and engagement with the BERA ecosystem and community. Following the announcement, the price of BERA token spiked, trading at $2.07, up by more than 12% in the past 24 hours Greenlane Holdings announced $110M investment in Berachain treasury – BERA price pumped^[1].

The move is expected to bring more institutional investors to the Berachain network, increasing BERA's visibility in the crypto market. Traders are watching whether treasury-related inflows can keep BERA above the $2 area, which has acted as a magnet in recent sessions. The short-term trend is now bullish, but a lasting recovery depends on whether BERA can hold above the reclaimed support band in the coming sessions BERA Crypto Treasuries Are Coming: BERA Price Prediction Amid $110m Berachain TradFi Treasury Move^[2].