Kierkegaard’s identification of “consciousness” with “interest” (interesse) in his unfinished work Johannes Climacus adds a distinctive dimension to his phenomenology of subjectivity. Commentators, however, have largely identified interesse with lidenskab (“passion”), a conflation I argue to be mistaken, or have otherwise failed to note the structural implications of interesse for Kierkegaard’s account of cognition. I draw out these implications and argue that the Climacan account of interest as the experience of finding ourselves in-between ideality and reality implies, in the context of Kierkegaard’s trichotomous ontology of consciousness, a form of non-thetic self-referentiality built into cognition itself. This self-referentiality also has the intriguing implication of making consciousness itself inherently teleological.