Greenlane Holdings (Nasdaq: GNLN) has announced a $110 million private placement to establish a blockchain-based digital asset treasury centered around Berachain’s BERA token. The initiative, branded as BeraStrategy, marks the company’s first significant move into decentralized finance (DeFi) and on-chain asset management, signaling a transformative pivot from its traditional operations.
The private placement, led by prominent institutional investors including Polychain Capital, Blockchain.com, Kraken, North Rock Digital, CitizenX, and dao5, will provide Greenlane with a diversified mix of both fiat and digital holdings. According to the official press release, the structure includes approximately $50 million in cash and cash equivalents and around $60 million in BERA tokens. Shares are priced at $3.84, while pre-funded warrants are set at $3.83. The transaction is expected to close on or around October 23, 2025.
Strategic expansion into blockchain assets
The move represents a strategic expansion for Greenlane Holdings, a company historically recognized as a leading distributor of cannabis accessories. With the creation of BeraStrategy, Greenlane aims to integrate blockchain technology into its corporate treasury management and establish a foothold in the rapidly evolving digital asset landscape. The BeraStrategy division will actively manage the company’s holdings in BERA tokens, leveraging on-chain governance and yield opportunities within the Berachain ecosystem.
Ben Isenberg, who previously held an executive position at Greenlane, will assume the role of Chief Investment Officer for BeraStrategy. He will oversee the management and execution of the treasury’s crypto allocation. The company also announced that Bruce Linton, a veteran in the cannabis and emerging industries sectors, will join as Board Chair, while Billy Levy will take a seat on the board to support the company’s digital transition.
Market and investor reactions
The announcement of Greenlane’s entry into the cryptocurrency sector has stirred notable activity in its stock, with GNLN shares experiencing increased volatility following the news. Market analysts have described the initiative as a bold yet calculated risk, potentially positioning Greenlane as a pioneer among U.S.-listed companies exploring direct exposure to blockchain-native assets.
Berachain’s BERA token has drawn significant attention within the DeFi community for its innovative proof-of-liquidity consensus mechanism. This model rewards liquidity providers and long-term participants with governance power and yield opportunities, aligning with Greenlane’s vision of sustainable on-chain growth. The Berachain Foundation’s endorsement of Greenlane’s BERA treasury adds institutional credibility to the initiative.
Greenlane stated that funds from the private placement will be used to acquire BERA tokens through a mix of open-market and over-the-counter (OTC) transactions. This hybrid acquisition approach aims to balance liquidity management and minimize market impact while accumulating a substantial on-chain position.
By anchoring its new digital asset strategy around Berachain, Greenlane Holdings is not only diversifying its treasury but also signaling its belief in the future of decentralized finance. The move places Greenlane among the first publicly traded firms to hold blockchain-native assets as a central component of its corporate balance sheet, reflecting a broader shift toward on-chain financial infrastructure.
