Avalanche Treasury Co. is preparing to go public through a $675 million merger with Mountain Lake Acquisition Corp. (Nasdaq: MLAC). The combined entity is targeting a Nasdaq listing in Q1 2026, beginning with approximately $460 million in treasury assets. The goal? Build an institutional vehicle that could ultimately amass more than $1 billion worth of AVAX.
Avalanche Foundation partnership secured
What makes this move stand out is its exclusive relationship with the Avalanche Foundation. As part of the deal, the foundation will sell $200 million in AVAX tokens to Avalanche Treasury Co. at a discounted price. Investors will gain a 23% advantage compared to direct AVAX purchases or ETF alternatives, thanks to a 0.77x net asset value entry point.
Additionally, the foundation has granted the treasury an 18-month priority window to purchase tokens ahead of other U.S. treasury firms, a structural advantage designed to give institutional players easier access to Avalanche.
Strategy: More than just holding tokens
Unlike passive investment vehicles, the Avalanche treasury is positioning itself as a catalyst for ecosystem growth. Its strategy revolves around three pillars:
- Protocol investments aimed at accelerating adoption.
- Enterprise partnerships that bring real-world assets and payment infrastructure onto Avalanche.
- Direct support for institutional launches on the Avalanche layer-1 network, including validators and liquidity provisioning.
The design is simple: use capital to generate activity, not just to sit on a stash of coins.
Who’s leading the Avalanche Treasury?
The leadership team is stacked with Wall Street and crypto veterans:
- Bart Smith – CEO, formerly of Susquehanna International Group and AllianceBernstein.
- Laine Litman – COO.
- Budd White – Chief Strategy Officer.
Supporting them is Emin Gün Sirer, founder of Ava Labs, as a strategic advisor. John Nahas, Ava Labs’ Chief Business Officer, will join the board.
The advisory team includes Haseeb Qureshi (Dragonfly), Jason Yanowitz (Blockworks), and Stani Kulechov (Aave). Big-name investors such as Dragonfly, ParaFi, VanEck, Galaxy Digital, Pantera, and Kraken are already backing the deal.
Market context: AVAX and institutional plays
Avalanche isn’t the only one drawing institutional attention. In September, AgriFORCE announced a pivot to Avalanche with a plan to raise $550 million to buy AVAX, briefly sending its stock up 200% before cooling off.
Meanwhile, AVAX itself trades around $30, roughly flat on the week despite strong moves from Bitcoin, Ethereum, and Solana. For institutions, the bigger story isn’t the day-to-day price but access, something the Avalanche treasury hopes to simplify.
The SPAC merger requires shareholder approval and regulatory clearance, with outcomes dependent on redemption levels and private placement funding. If completed, Avalanche Treasury Co. plans to work with execution partners like FalconX and managers such as Monarq to run validator infrastructure and deploy capital.
Conclusion: Building an Avalanche growth engine
If the listing succeeds, the Avalanche treasury will emerge as a publicly traded, foundation-backed vehicle designed to accelerate adoption across the Avalanche network. With discounted access from the Avalanche Foundation, top-tier investors, and a $1 billion target, this isn’t just about holding AVAX; it’s about building momentum for the ecosystem itself.
