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Injective has joined a growing list of cryptocurrencies with a digital asset treasury amid an explosive corporate move on Wall Street.
On Tuesday, Injective (INJ) announced that Wall Street firm Pineapple Financial has launched the world’s first Injective Digital Asset Treasury (DAT). The Toronto-based fintech platform, listed on NYSE American, is eyeing an initial $100 million bet on the INJ token as a treasury asset.
INJ, the native token of the Injective ecosystem, was up slightly amid the news, hovering around $12.76 at the time of writing.
Pineapple Financial bets on Injective with $100 million treasury buy
Ethereum, Solana and BNB are among top altcoins to attract “microstrategy-like” crypto treasury moves.
However, these are not the only ones seeing Wall Street salivate on the potential across the blockchain space.
Injective is basking in the latest limelight as Pineapple Financial unveils a $100 million Digital Asset Treasury dedicated exclusively to accumulating $INJ.
The company’s bet sees it become the first to establish a publicly traded Injective DAT, with purchase of the crypto tokens set to commence in coming weeks.
“This release will not only enable traditional finance institutions to access INJ via the stock market, it will also allow Injective to bring an unmatched set of tokenized assets to its blockchain, unlocking a truly multi-trillion dollar market opportunity,” Injective posted on X.
Pineapple Financial’s raise attracted a consortium of prominent investors, including FalconX, Monarq, Abraxas, Blockchain.com, Canary Capital, Kraken, and the Injective Foundation.
Injective price outlook – key catalysts
While the launch of the $100 million treasury strategy marks another potential catalyst for Injective’s growth, it only adds to a growing ecosystem.
Recent momentum has revolved around the prospect of exchange-traded funds (ETFs), with Injective price recently benefiting from fund manager Canary Capital’s filing applications for a staked Injective ETF.
Analysts say a SEC nod for an Injective ETF could spark massive buying pressure amid institutional participation.
“Injective was purpose-built to unite traditional and decentralized finance. This ETF integrates staking into a regulated format, giving both institutions and individuals secure access to the new future of finance,” Eric Chen, co-founder of Injective, said at the time of Canary’s filing.
Traction for Injective in tokenization is another key growth engine, with the platform’s blockchain infrastructure increasingly crucial in the real-world assets market. This, and broader trends in decentralized finance are likely catalysts for INJ price.
Recently, Republic, a platform with $3 billion in deployed funds, integrated with Injective, adding to the tokenization trend with wallet and launchpad support. The platform has also unveiled a Nvidia GPU derivatives marketplace.
The INJ token reached highs of $34 in December 2024, but has struggled for upside amid broader altcoin market turbulence.
However, bulls currently sit near the support zone at $12 and could drive higher amid fresh crypto gains.
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