Publicly traded companies are accelerating their accumulation of BNB

Applied DNA Sciences saw its shares rise more than 50% on Wednesday after announcing the purchase of 4908 BNB tokens valued at approximately 5.3 million dollars.

The announcement came after the closing of a private investment of 27 million dollars in public equity, backed by institutional investors from DeFi and traditional finance. The funding combined 15.3 million dollars in cash and stablecoins with 11.7 million dollars in units of OBNB Trust, granting the company indirect ownership of approximately 10,647 BNB tokens.

The warrants linked to BNB remain subject to shareholder approval before the tokens can be formally transferred.

Applied DNA Sciences plans to use the net proceeds to implement a performance-focused treasury strategy with significant direct and equivalent exposure to BNB, according to Patrick Horsman, CFA's chief investment officer.

The strategic decision came one day after CEA Industries Inc., a Canadian vaping company, announced the acquisition of 500,000 BNB tokens at an average price of approximately 870 dollars per token. CEA, which became a BNB treasury company in July, is currently the largest BNB treasury holder and aims to own 1% of the total supply by the end of the year.

Bloomberg reported on October 13 that China Renaissance Holdings Ltd., an investment bank based in Beijing, was in talks to raise approximately 600 million dollars and form a digital asset treasury in the U.S. to accumulate BNB.

The increase in institutional interest has coincided with a significant rise in the token's price.

On October 7, BNB surpassed XRP and became the third.$BNB