Kraken Backs Greenlane’s $110M Crypto Pivot as Company Shifts from Cannabis to Digital Assets
In a landmark strategic shift, Greenlane Holdings has announced a major $110 million private investment in public equity (PIPE) transaction, signaling a dramatic pivot from its cannabis roots to the digital asset space. The deal, prominently backed by cryptocurrency exchange Kraken alongside other major industry players including Polychain Capital, Blockchain.com, and North Rock Digital, represents one of the most significant corporate transitions into the crypto sector in recent memory. This move comes as Greenlane's stock experienced a 9% decline to $3.49 following the announcement, potentially reflecting market uncertainty about the strategic redirection. The company's plan to anchor its new digital asset treasury with Berachain's native assets demonstrates a sophisticated approach to cryptocurrency treasury management that could set a precedent for other traditional companies considering similar transitions. This substantial capital infusion and strategic repositioning highlight the growing institutional confidence in digital assets as a legitimate asset class and treasury management tool. The participation of established exchanges like Kraken in funding such transitions underscores the maturing infrastructure supporting corporate entry into the cryptocurrency space. As of October 2025, this development represents a significant milestone in the ongoing convergence of traditional finance and digital assets, potentially paving the way for more companies to follow suit in allocating substantial portions of their treasuries to cryptocurrency investments.
Greenlane Holdings Pivots to Crypto with $110M BERA-Backed Treasury Shift Amid Stock Dip
Greenlane Holdings, Inc. (GNLN) shares fell 9% to $3.49 following its announcement of a $110 million private investment in public equity (PIPE) transaction. The deal, led by Polychain Capital with participation from Blockchain.com, Kraken, and North Rock Digital, signals a strategic shift from cannabis to digital assets.
The company plans to anchor its new digital asset treasury with Berachain’s native token, BERA, marking a bold departure from its traditional business model. Leadership changes, including the appointment of Bruce Linton, underscore the firm’s commitment to crypto expansion.
Market reaction remained muted as investors weighed the risks of Greenlane’s blockchain pivot. The MOVE reflects growing institutional interest in tokenized treasuries and on-chain finance, though execution risks loom large.
Polychain Capital Leads $110M Investment in Greenlane’s Crypto Treasury Strategy
Polychain Capital has orchestrated a $110 million private investment in public equity (PIPE) deal to bolster Greenlane Holdings' pivot toward cryptocurrency treasury management. The Nasdaq-listed company will integrate BERA tokens—the native asset of Berachain’s ecosystem—as its primary reserve holding, signaling institutional confidence in blockchain-based treasury solutions.
The funding round, supported by Blockchain.com, Kraken, and CitizenX, includes $50 million in cash and $60 million in BERA tokens. Greenlane’s newly formed BeraStrategy division, led by CIO Ben Isenberg, will oversee the crypto treasury initiative. This move coincides with Berachain’s anticipated 2025 mainnet launch, positioning Greenlane for early exposure to the ecosystem’s growth.
