Avalanche Treasury’s $675M SPAC Deal Could Unlock $1B AVAX Buying Spree

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The price of Avalanche’s native token, AVAX, jumped on Wednesday after Avalanche Treasury, a newly formed company, revealed ambitious plans to list on Nasdaq and acquire more than $1 billion worth of the cryptocurrency.

Avalanche Treasury Merger With SPAC Announced

Avalanche Treasury announced that it is to merge with the special purpose acquisition company (SPAC) Mountain Lake Acquisition Corp. in a transaction worth more than $675 million. Under the name AVAT pending regulatory and shareholder approval, the combined company is expected to list on the Nasdaq during the first half of 2026.

The shift is the most recent in a trend of publicly traded firms shifting to the digital asset portfolio. In case of completion, the venture will be the second specific company, which highlights the increasing institutional interest in blockchain-centered treasuries.

This announcement saw AVAX rise to an intraday high of $30.32 and then fall back, although retaining a 2.3% gain in the last 24 hours, according to CoinGecko.

Avalanche Treasury Secures Exclusive Foundation Deal

Bart Smith, the former Susquehanna Crypto CEO, will be the new company leader, and Emin Gün Sirer, the Ava Labs founder and CEO, will become an adviser to Avalanche Treasury.

It stated that it will raise at least 460 million treasury assets and seek to purchase AVAX at a discount with the Avalanche Foundation via an exclusive relationship. During its launch, the company also has an 18-month priority window on Foundation sales to U.S. digital asset treasuries.

In addition to the passive accumulation, the company focuses on building an infrastructure of validators, investing in specific Avalanche protocols, and tokenizing real-world assets and stablecoins in an enterprise.

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

Major Investors Back Avalanche Treasury Merger

Bart Smith said that many institutions face problems accessing digital assets or can only have native tokens that lack yield or integration into an ecosystem. The reason behind our founding of the AVAX holding company was to provide what we feel will be a better product than passive exposure.

A wide range of crypto-oriented investors, such as Dragonfly, VanEck, FalconX, Monarq, Galaxy Digital, Pantera Capital, CoinFund, and Kraken, have also joined the merger, which further confirms the strategy of Avalanche Treasury.

the AVAX holding company is also on the same track as AgriFORCE Growing Systems, which rebranded as AVAX One in late September and committed to buying $700 million of AVAX.

Also read: Avalanche’s First Nasdaq Firm Plans $700M AVAX Treasury After $550M Raise

Company Plans Discounted AVAX Purchase

The company estimates that its intended token buy will be done at a 23 percent discount of a direct market purchase citing an intended multiple (mNAV) of 0.77. Although, certain analysts like those of NYDIG view that the mNAV computation is flawed and fails to sufficiently reflect the financial health of a firm.

In case of success, the listing would be a milestone in the history of Avalanche as it would become more tied to Wall Street capital and blockchain treasury strategies. Institutional adoption of AVAX might also gain a great pace with the AVAX holding company in the lead.

Also read: Avalanche Foundation to Repurchase 1.97 Million AVAX Tokens

Conclusion

Based on the latest research, Avalanche Treasury’s Nasdaq debut and billion-dollar AVAX strategy could accelerate institutional adoption while shaping blockchain treasury models. Although the valuation metrics have raised some concerns, it has a good momentum in its discounted token purchases and strategic partnerships. Success can make a company a force of crypto-financial innovation.

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Summary

Avalanche Treasury Co. announced plans to merge with Mountain Lake Acquisition Corp. in a $675 million deal and list on Nasdaq in early 2026 under ticker “AVAT.” The company intends to buy more than 1 billion AVAX, backed by key crypto investors. Avalanche Treasury, headed by Bart Smith and advisor Emin Gün Sirer, will offer discounted token purchases, validator infrastructure and enterprise blockchain services, but analysts are skeptical about its valuation metrics.

Glossary of Key Terms

Avalanche Treasury: New firm buying $1B+ AVAX, aiming for Nasdaq listing via SPAC.

AVAX: Avalanche blockchain’s native token for payments and staking.

Nasdaq Listing: Public trading on Nasdaq stock exchange.

SPAC: Shell company raising funds to merge with another firm.

AVAT: Planned Nasdaq ticker for Avalanche Treasury.

Avalanche Foundation: Ecosystem supporter offering token sales and deals.

mNAV: Valuation metric claiming AVAX discount, debated by analysts.

AVAX One: Rebranded firm pledging $700M AVAX purchases.

Frequently Asked Questions about Avalanche Treasury Co.

1. What is Avalanche Treasury Co.?

A new company planning to go public and buy $1B+ in AVAX.

2. When will it list on Nasdaq?

Expected in Q1 2026 under ticker “AVAT,” pending approval.

3. How much AVAX will it buy?

Over $1 billion worth, starting with $460M in assets.

4. Who leads Avalanche Treasury Co.?

Bart Smith is CEO, with Emin Gün Sirer as adviser.