The race to accumulate BNB tokens for corporate treasuries is intensifying, with Applied DNA Sciences and CEA Industries making significant strides in expanding their holdings. These strategic moves highlight a growing institutional interest in BNB and its potential within the Binance ecosystem.
CEA Industries (NASDAQ: BNC), a Nasdaq-listed company, has solidified its position as the world's largest corporate BNB treasury holder. On October 21, 2025, CEA Industries announced it now holds 500,000 BNB, acquired at an average cost of $870 per BNB, representing a $435 million investment. As of October 20, 2025, the estimated value of their BNB holdings reached $546.8 million. In addition, the company holds approximately $50 million in unencumbered cash, bringing its total crypto and cash reserves to $596.8 million. CEO David Namdar has emphasized the firm's conviction in BNB's potential, stating that their mission involves amplifying exposure through strategic purchases. CEA aims to own 1% of the total BNB supply by the end of 2025. To achieve this ambitious goal, the company would need to acquire approximately 1.4 million BNB tokens.
Applied DNA Sciences (NASDAQ: BNBX), a biotechnology company, is also aggressively pursuing a BNB treasury strategy. On October 22, 2025, Applied DNA announced the successful closing of a private investment in public equity (PIPE) financing, raising approximately $27 million in gross proceeds. The PIPE, led by institutional DeFi and TradFi investors, included $15.3 million in cash and stablecoins, as well as units of the OBNB trust valued at $11.71 million. The company could potentially receive an additional $31 million from future warrant exercises. Applied DNA also purchased an additional 4,908 BNB tokens with an estimated value of $5.3 million as of October 20. Patrick Horsman, Chief Investment Officer at Applied DNA, stated that the company sees BNB as the next institutional-grade blockchain and believes they are well-positioned to capitalize on its future growth. Applied DNA intends to use the PIPE proceeds to continue implementing its BNB treasury strategy, support working capital needs, and cover transaction-related expenses.
These expansions coincide with the strong performance of the BNB token, which surpassed $1,000 in 2025 as the broader digital asset market rebounded. BNB's increasing adoption and utility within the Binance ecosystem are driving its appeal as a treasury asset. The BNB Chain ecosystem leads blockchain networks in daily active users and decentralized trading volume, with over $12 billion in total value locked across the network. Moreover, major institutions like Coinbase and China Merchants Bank International (CMBI) are actively engaging with the BNB ecosystem, signaling growing confidence in its potential.
CEA Industries' single-asset focus distinguishes it from diversified crypto treasuries, allowing the company to capture network effects and generate on-chain yield. Applied DNA plans to implement a differentiated digital asset treasury strategy designed to generate additional yield and accumulation of BNB tokens through the integration of actively managed decentralized finance protocols and Binance ecosystem-specific strategies. These active approaches are structured to deliver yields materially in excess of other conventional methods while maintaining a disciplined focus on risk management.
The increasing accumulation of BNB by corporate treasuries reflects a broader trend of institutional adoption of digital assets. As more companies recognize the potential of BNB and the Binance ecosystem, the race to secure significant holdings is likely to accelerate.
