Avalanche Treasury Co. (AVAT) has announced a merger with Mountain Lake Acquisition Corp. (Nasdaq: MLAC).
The combined company plans to list on Nasdaq in early 2026, pending regulatory and shareholder approval.
AVAT will launch with approximately $460 million in treasury assets and a long-term plan to build a $1 billion AVAX portfolio. The company’s structure offers investors entry at a 0.77x multiple of net asset value—a 23% discount compared to buying AVAX directly or through a crypto exchange-traded fund.
In simple terms, investors can buy into AVAT’s publicly listed shares to gain AVAX exposure at below-market cost. This is while also benefiting from the firm’s active participation in the Avalanche ecosystem. This means instead of passively holding tokens, AVAT plans to put its capital to work by supporting on-chain projects, decentralized finance (DeFi) tools, and institutional blockchain launches.
“Many institutions have difficulty accessing digital assets,” said AVAT CEO Bart Smith. “We built Avalanche Treasury Co. to be more than passive exposure. It’s about becoming a strategic part of Avalanche’s growth.” This mirrors a broader industry movement. For example, earlier this year, Franklin Templeton launched an on-chain U.S. Treasury fund on Avalanche, showcasing how legacy finance is increasingly experimenting with blockchain-backed financial products.
In September, total monthly Avalanche C-Chain transactions surpassed 50 million for only the second time in the network’s history. This milestone represents a 38 percent increase over August, which had previously set the record as the second-highest monthly transaction total for the C-Chain.
The surge highlights growing activity and adoption on Avalanche, reflecting stronger usage of decentralized applications and increased engagement from both retail and institutional participants.
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