CEA Industries, a Canadian vape-products maker that trades on Nasdaq under the ticker VAPE, said it has raised $500 million in a private investment in public equity to establish what it calls the largest publicly listed treasury dedicated to Binance’s BNB token. The upsized placement was led by venture firm 10X Capital and YZi Labs, with warrants that could lift total proceeds to $1.25 billion. The company plans to begin purchasing BNB on or around 31 July and scale its holdings over the following 12-to-24 months. Incoming chief executive officer David Namdar, a co-founder of Galaxy Digital, will oversee the strategy, which aims to give traditional investors regulated exposure to the BNB Chain ecosystem. News of the pivot sent VAPE shares up as much as 700 percent on Monday to an intraday high of roughly $82 before settling lower; the stock remains several-fold above last week’s level. BNB, meanwhile, touched a record near $860 amid signs of rising institutional demand. CEA’s move mirrors earlier Bitcoin-treasury plays by companies such as MicroStrategy but marks the first sizable public-market vehicle focused on BNB. The firm said it may generate additional yield through staking and other on-chain activities while maintaining what it described as a conservative risk profile.