Greenlane Holdings, Inc. (NASDAQ: GNLN)
BeraStrategy
About BeraStrategy
In October 2025, Greenlane Holdings, Inc. (NASDAQ: GNLN) launched BeraStrategy, a Berachain-focused digital asset treasury strategy intended to combine digital asset ownership with protocol participation activities.
Through BeraStrategy, Greenlane holds BERA, supports validators, provides liquidity to on-chain applications, and participates in the ecosystem, under the reporting and oversight framework of a public company. These participation activities involve operational, technological, governance, liquidity, and smart contract risks. Rewards and yields are variable and not guaranteed.
What Is Berachain?
Berachain is a blockchain whose economic and incentive design is intended to direct liquidity toward securing the network. In contrast to designs in which capital used to secure the network remains idle, Berachain’s design is intended to allow that capital also to support applications built on the network. Berachain refers to this design as Proof of Liquidity, which is intended to encourage liquidity participation and ecosystem development.
Under this design:
• Capital is used to help secure the network;
• Liquidity supports trading, lending, and other applications; and
• Network rewards are directed toward activity that protocol rules and governance prioritize.
The intended objective is to make liquidity productive rather than idle.
Why Berachain?
We believe the opportunity sits at the intersection of three structural forces: a powerful blockchain architecture that seeks to reward productive capital, a maturing on-chain economy that needs liquidity infrastructure, and a public company vehicle that seeks to support long-term shareholder value.
Proof of Liquidity is different
Traditional Proof of Stake blockchains lock billions in capital that sits idle — securing the network but doing little or nothing else. Berachain makes that capital potentially more productive through its incentive design. Berachain’s design is intended to align network security incentives and application-level liquidity. For our treasury strategy, we seek to gain exposure to multiple protocol-defined reward streams, rather than choosing between security participation and liquidity participation.
On-chain economies need liquidity to scale
As asset tokenization grows — certain third-party estimates project growth in tokenized assets over the coming decade. If correct, on-chain markets will need deep, reliable liquidity. Berachain’s design directly incentivizes liquidity provision. Being an early, large-scale provider may position Greenlane at the infrastructure layer of this emerging economy.
Active participation can generate rewards
Most crypto treasury strategies buy tokens and wait. Greenlane deploys capital into the protocol — validating, providing liquidity, and participating in governance to direct rewards to our positions. Active participation may result in protocol-level rewards or incentives, subject to governance decisions, network conditions, and market dynamics. Any economic effects are variable and not guaranteed.
Public markets seek to bridge the access gap
Investors want on-chain yield but can face real barriers: custody, regulatory ambiguity, complex market operations. GNLN on NASDAQ gives them a familiar wrapper — audited financials, board governance, SEC disclosure — around a crypto-native participation strategy. No wallet required.
How It Works? – The BeraStrategy Playbook
BeraStrategy operates across four connected activities.
Layer 1 – Accumulate BERA
Greenlane acquires and holds BERA, the asset used for validation, governance, and reward distribution on Berachain, using available corporate capital and other funding sources.
Layer 2 – Support Validators
Validators secure the network and, on Berachain, may also help direct where incentive rewards flow. By supporting validators, BeraStrategy seeks to participate in network security and in governance processes that may influence certain reward allocation decisions, subject to protocol rules and participation levels. Greenlane does not control protocol governance and cannot assure any particular level of influence or benefit.
Layer 3 – Deploy Liquidity
Greenlane may provide capital to trading pools, lending protocols, and other DeFi applications in exchange for variable fees and incentive rewards. These fees and rewards are variable and not guaranteed.
Layer 4 – Govern & Reinvest
Through governance participation, BeraStrategy seeks to take part in decisions on how rewards are allocated. The Company may reinvest rewards into additional BERA or liquidity deployments, subject to market conditions and management discretion.
Why Greenlane?
Not all treasury strategies are created equal.
Active participation.
Unlike certain digital asset treasury strategies that primarily hold digital assets, Greenlane seeks to participate in the Berachain protocol through validator support, liquidity provision, and governance participation. As of April 7, 2026, Greenlane held approximately 77.9 million BERA, of which approximately 50 million had been deployed to validators, as reported in the Company’s Form 8-K furnished April 9, 2026. Holdings and deployment figures change over time and are updated in the Company’s SEC filings.
NASDAQ Listed (NASDAQ: GNLN).
Greenlane is subject to SEC reporting, audited financial statements, and board governance. Shares are accessible through brokerage, IRA, and investment platforms, without the need for a digital asset wallet.
Board representation.
A representative affiliated with the Berachain Foundation serves on the Company’s board of directors. This representation does not constitute an endorsement of the Company or its strategy by the Berachain Foundation. Board composition is described in the Company’s SEC filings.
Early participation.
Greenlane seeks to establish an early position within the Berachain ecosystem. As previously disclosed by the Company, in October 2025 it completed a $110 million private placement with participation from institutional investors, as described in the Company’s Current Report on Form 8-K filed in October 2025.
Reinvestment.
The Company may reinvest rewards into additional protocol participation activities, subject to market conditions and management discretion. Reinvestment does not assure growth in the value of the Company’s position.
Public company reporting.
Greenlane reports on its holdings, participation, and strategy in its SEC filings.
Risk considerations.
Digital asset investments involve substantial risk, including price volatility, technological and cybersecurity failures, smart contract risks, validator-related risks, governance changes, concentration risk, liquidity risk, regulatory developments, and potential loss of capital. Greenlane’s BERA holdings are concentrated and subject to significant price volatility. Participation rewards and yields are variable and not guaranteed and may not offset declines in the value of BERA. Greenlane does not control Berachain protocol governance. The Company records its digital asset holdings at fair value, and the value of those holdings may fluctuate significantly, which may materially affect the Company’s financial results and the market price of its common stock. The market price of the Company’s common stock may not track the value of its BERA holdings or its net asset value. The Company’s strategy depends on the continued operation and adoption of the Berachain network, and changes in network usage, participation, governance, or ecosystem development could materially affect the value and utility of BERA. For a complete description of risks, see the risk factors in the Company’s most recent Form 10-K and subsequent filings.
SEC Filings
View the Company’s regulatory filings, including Forms 10-K, 10-Q, and 8-K filed with the SEC.