Crypto treasury firm to go public with Nasdaq listing in 2026
The price of Avalanche (AVAX) climbed this week following news that Avalanche Treasury Co. plans to purchase more than $1 billion worth of tokens after completing a merger with a US-listed SPAC.
The newly formed company will merge with Mountain Lake Acquisition Corp., a deal valued at over $675 million, with the combined business expected to trade on Nasdaq under the ticker AVAT in the first quarter of 2026.
Avalanche Treasury Co. said it has an exclusive relationship with the Avalanche Foundation, which plans to provide discounted AVAX sales to treasury companies. The firm aims to initially raise $460 million in assets, with a goal of surpassing $1 billion in AVAX holdings after going public.
Bart Smith, former head of Susquehanna Crypto, has been named CEO, while Emin Gün Sirer, founder of Ava Labs, will serve as an adviser. The company will become the second Avalanche-focused treasury vehicle, joining a wave of firms pivoting toward crypto treasuries.
Following the announcement, AVAX rose to an intraday high of $31.32 before cooling slightly, but the token remains up 2.3% in the past 24 hours.
Beyond Passive Accumulation
Smith highlighted that the company’s strategy is broader than simply holding tokens. “We created Avalanche Treasury Co. to offer something we believe will be more valuable than passive exposure,” he said. The firm plans to generate yield through protocol investments, validator infrastructure, and tokenization of real-world assets.
The structure offers investors a discounted entry point, with an mNAV target of 0.77—roughly 23% below market price. However, some analysts have warned that mNAV may not fully capture a company’s true financial position.
Institutional Backing and Market Impact
The merger is supported by leading crypto investment firms, including Dragonfly, VanEck, Pantera Capital, FalconX, Galaxy Digital, CoinFund, and Kraken.
With plans for large-scale accumulation and active participation in Avalanche’s ecosystem, Avalanche Treasury Co. signals a growing trend of corporate treasuries entering crypto markets. The move also reinforces AVAX’s role as a core asset for institutional exposure.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.