A new crypto play has landed on Wall Street. Pineapple Financial has raised $100 million to build the first Injective digital asset treasury. The plan is simple but ambitious.
All net proceeds will go toward acquiring Injective’s native token, INJ. With this move, Pineapple becomes the first publicly listed company to hold INJ at scale.
The announcement was confirmed in posts shared by both Pineapple Financial and Injective’s official accounts. The move attracted attention across traditional finance and crypto circles.
Investors from both sides of the market joined the placement, setting the stage for Injective’s presence on Wall Street. The treasury will expand over the coming months as Pineapple deploys the full capital into INJ accumulation.
According to Pineapple Financial’s press release, the company raised $100 million through a private placement to kickstart the strategy.
The treasury is structured around Injective’s token, which the firm said offers competitive staking yields compared to other blockchain networks. The goal is to generate consistent returns while holding a liquid asset tied to blockchain finance.
Management described the move as a step toward aligning with the growing tokenization trend.
By anchoring its treasury to INJ, Pineapple aims to explore how blockchain-based assets can integrate into financial operations. Company leaders stated that they see Injective as a key enabler of future liquidity rails for markets worldwide.
Our strategic $100M allocation into @injective $INJ will be the first-ever synergistic digital asset treasury strategy ever employed.
Check out the full press release for all the details!https://t.co/i4cOl95xpR https://t.co/Cb8ThQlGhh
— Pineapple PAPL (@PAPLpineapple) September 2, 2025
The placement was backed by a wide list of investors. These included FalconX, Monarq, Abraxas, Blockchain.com, Canary Capital, Kraken, and the Injective Foundation. This mix of traditional finance and crypto-native groups underlined the cross-market interest in Injective’s growth.
Eric Chen, Injective’s co-founder, called the launch a defining milestone for the ecosystem. He said the treasury marks progress toward connecting Wall Street capital with blockchain-based finance.
Pineapple’s team echoed this by positioning the move as an early step in merging fintech and onchain assets.
Injective reported that the network has handled more than $60 billion in transactions.
The blockchain emphasizes low fees and institutional readiness, features that Pineapple highlighted when selecting INJ as its treasury asset. Usage has risen sharply this year, with activity climbing over 1,000 percent since January.
Today, the Injective ecosystem takes a historic step in bringing $INJ to Wall Street for the first time.
Fintech platform Pineapple Financial $PAPL has launched a $100 Million Digital Asset Treasury dedicated solely to accumulating INJ. Over the coming weeks and months this… pic.twitter.com/LMxM9yfWBv
— Injective
(@injective) September 2, 2025
Pineapple Financial’s leadership pointed out that legacy processes in banking, lending, and securitization often remain slow and opaque. They said INJ could help reshape these functions with faster settlement and greater transparency.
Holding INJ through a dedicated treasury allows the company to test how these benefits might apply in financial services.
The expected annual staking yield of roughly 12 percent adds another layer to the strategy. By maintaining a large treasury of INJ, Pineapple anticipates both long-term token exposure and a steady yield. This aligns with the firm’s stated approach of blending fintech operations with blockchain economics.
D. Boral Capital acted as placement agent for the deal. Pineapple said it plans to continue exploring opportunities at the intersection of finance and blockchain. The company’s $100 million INJ treasury is set to grow, with Wall Street now formally holding Injective for the first time.
The post Pineapple Bets $100M on Injective as First Publicly Traded INJ Holder appeared first on Blockonomi.
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