NYSE-listed Pineapple Financial becomes the first publicly traded company to hold Injective tokens through a $100 million treasury fund targeting 12% annual staking yields.
By Ibrahim Ajibade
Editor Marco T. Lanz
Updated
3 mins read
NYSE-listed fintech firm Pineapple Financial has launched a $100 million fund to acquire Injective INJ $13.06 24h volatility: 1.4% Market cap: $1.28 B Vol. 24h: $118.75 M , becoming the first publicly listed company to hold INJ tokens. The NYSE American-listed company (PAPL) raised the funds through a private placement to build out its Injective treasury strategy.
According to the official press release, the treasury aims to generate around 12% annual yield through staking, positioning it among the most lucrative treasury allocations across blockchain networks.
“The launch of the first Injective digital asset treasury represents a defining moment for Injective and its ecosystem,” said Eric Chen, co-founder of Injective.
The news comes as Injective gains further institutional traction, with the SEC currently reviewing Canary Capital’s staked INJ ETF application. Filed in July, the product is open for 21 days of public comment and up to 90 days of review.
This follows a wave of cryptocurrency adoption that has taken hold in the US in 2025. Michael Saylor-led Strategy (Formerly MicroStrategy) had led the way as a lone ranger when it began acquiring Bitcoin in 2020.
Strategy (MSTR) Stock Price Rises 2,300% since it began buying BTC in 2020 | Source: Nasdaq
Since then, its MSTR stock price has skyrocketed by 2,300%, propelled by Bitcoin’s meteoric rally, tapping new all-time highs in 2021, 2024, and 2025, respectively. Currently, Strategy’s 636,505 total BTC holdings are valued at $71 billion, with $25 billion in unrealized gains.
Top 5 Bitcoin and Ethereum Treasury Holders as of September 2, 2025 | Source: Sentora Research
However, the improved US regulatory stance around cryptocurrencies since Trump’s second-term presidency began has triggered a flurry of fresh crypto treasury adoption. Sharplink Gaming currently holds 797,000 ETH according to Sentora Research data.
Tom Lee-led Bitmine’s latest acquisitions bring its total Ethereum holdings to 1.8 million ETH worth approximately $2 billion at current prices. Binance’s BNB coin treasury also kicked off with inflows from BNB Network Company (BNC), a subsidiary of CEA Industries, which purchased 200,000 BNB tokens for $160 million in early August 2025, making it the largest corporate holder of BNB at the time, and drawing plaudits from Founder Chang Peng Zhao.
Among others, Solana has also attracted over CAD $1 billion in inflows from Canadian firm Sol Strategies.
At press time, Injective price is hovering around $12.8, slightly off intraday highs of $13.2 after Pineapple’s $100 million treasury launch lifted INJ from its opening price near $12.0.
Injective (INJ) Price Reaction to Pineapple Financial’s $100M Treasury Strategy Inflow, on September 2, 2025 | Source: Coinmarketcap
However, after a weak close to August that saw INJ price book 14% losses on red candles in the previous three days of trading, the MACD histogram remains negative. Although sell-side pressure now appears to be easing as the MACD line inches toward a potential bullish cross with the signal line.
Injective (INJ) Technical Price Analysis | Source: TradingView
On the upside, clearing $13.8, the midpoint of the Bollinger Bands, could open the path toward $15.5, where the upper band currently sits. Sustained closes above this level would confirm renewed bullish dominance and possibly trigger more upticks toward $16, last tested during the mid-August rally, when Bitcoin’s all-time highs boosted altcoin markets.
On the downside, a failure to hold $12.0 could trigger further retracement, with $11.5 as the next key support.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.