Avalanche Treasury Co. to Go Public, Plans $1B AVAX Purchase

Quick Breakdown 

• Avalanche Treasury Co. plans Nasdaq listing via $675M SPAC merger, ticker “AVAT” set for 2026.
• The firm aims to acquire more than $1 billion in AVAX, starting with $460M in treasury assets.
• Unlike passive holdings, it will operate validators, invest in protocols, and tokenize assets.

The price of Avalanche’s native token AVAX surged after a newly formed treasury company revealed plans to list on Nasdaq and acquire over $1 billion worth of the cryptocurrency.

Avalanche Treasury Co. announces Nasdaq listing

Avalanche Treasury Co. said on Wednesday it will merge with Mountain Lake Acquisition Corp., a SPAC, in a deal valued at over $675 million. The combined company intends to debut on Nasdaq in Q1 2026 under the ticker “AVAT,” pending regulatory and shareholder approval.

Introducing Avalanche Treasury Co: the premiere way to get regulated AVAX exposure.

We’re the institutional growth engine for the @avax ecosystem, with an exclusive relationship with Avalanche itself.

Funding builders. Accelerating technologies. Bringing institutions to AVAX. pic.twitter.com/UST5jwCXjR

— Avalanche Treasury Co. (@avat_co) October 1, 2025

Emin Gün Sirer, founder and CEO of Ava Labs—the firm behind the Avalanche blockchain—will serve as an adviser. Bart Smith, former head of Susquehanna Crypto, has been named CEO.

Targeting $1 Billion in AVAX holdings

The company disclosed an “exclusive relationship” with the Avalanche Foundation, which had been planning discounted token sales to treasury firms. Avalanche Treasury Co. expects to raise around $460 million in initial assets, with a long-term goal of surpassing $1 billion in AVAX holdings.

AVAX briefly spiked to $31.32 following the announcement before settling at $30.58, still up 2.3% over the past 24 hours, according to CoinGecko.

Crypto-focused firms backing the merger include Galaxy Digital, Pantera Capital, Dragonfly, VanEck, FalconX, Monarq, CoinFund, and Kraken.

Beyond passive accumulation

Unlike traditional treasury models, the company intends to be active onchain. Plans include targeted protocol investments, validator operations, and supporting enterprises in tokenizing real-world assets and stablecoins.

Smith said the firm is designed to give institutions exposure to Avalanche’s ecosystem “beyond passive accumulation,” noting that many investors face restrictions when trying to access digital assets .

Discounted entry strategy

Avalanche Treasury Co. will launch with discounted AVAX purchases and has secured an 18-month priority on token sales from the Avalanche Foundation. It is targeting a multiple of net asset value (mNAV) of 0.77, equating to a 23% discount compared to direct AVAX purchases.

However, analysts at NYDIG recently cautioned that the mNAV metric can be misleading, arguing it doesn’t accurately reflect a company’s true financial standing.

 

If you want to read more market analyses like this one, visit DeFi Planet and follow us on , , , , and CoinMarketCap Community .

 

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”