Big moves are happening in the Avalanche ecosystem. Avalanche Treasury Co. just announced plans to go public via a SPAC merger with Mountain Lake Acquisition Corp., valued at $675 million, and acquire over $1 billion in AVAX tokens.
The Nasdaq listing under ticker AVAT is expected in early 2026, pending regulatory and shareholder approval.
Momentum is building: AVAX jumped to an intraday high of $31.32 following the announcement, ending the day up 2.3%. Institutional interest in Avalanche and Ethereum ecosystem projects is clearly heating up.
The SPAC-backed treasury firm has exclusive ties with the Avalanche Foundation, securing discounted access to millions of tokens. Initial capital raises will fund around $460 million in treasury assets, with backing from heavy hitters like Dragonfly, VanEck, FalconX, Galaxy Digital, Pantera Capital, CoinFund, and Kraken.
Leadership is strong: Bart Smith, former CEO of Susquehanna Crypto, takes the helm, with Ava Labs founder Emin Gün Sirer joining as an adviser. The firm’s strategy goes beyond passive accumulation, targeting protocol investments, real-world asset tokenization, stablecoins, and validator infrastructure.
Smith emphasizes that this approach gives institutions access to digital assets they couldn’t easily reach otherwise.
The token buy comes at a discount, with an 18-month priority on Avalanche Foundation sales, offering a 23% discount compared to market purchases.
At current prices (~$30), the $1B acquisition would cover roughly 34.7 million AVAX, about 8% of circulating supply, highlighting the scarcity dynamics similar to Bitcoin.
This move follows a wave of SPAC-backed crypto treasuries, including AgriFORCE’s AVAX One, showing a growing trend of public market pathways for institutional Avalanche exposure.
The takeaway:
Avalanche is attracting serious institutional firepower, and AVAX could see further gains as the ecosystem benefits from treasury-backed support, discounted token access, and strategic investments across the network.
