Avalanche Treasury Co. (AVAT) has announced one of the most significant operations in the digital asset sector, signing a definitive business combination agreement with Mountain Lake Acquisition Corp. (Nasdaq: MLAC).
The total value of the transaction exceeds 675 million dollars, marking a crucial step towards creating a public and integrated financial ecosystem for AVAX, the native token of the Avalanche blockchain.
The operation, made public on October 1, 2025, stipulates that the new company resulting from the merger will be listed on Nasdaq in the first quarter of 2026, pending regulatory and shareholder approval.
This project aims to offer institutional investors privileged and strategic access to AVAX, going beyond the simple passive exposures offered by traditional ETFs.
An ecosystem worth over a billion dollars
The stated goal of AVAT is ambitious: to build a treasury ecosystem worth over a billion dollars in AVAX assets, solidifying its position as a key partner within the Avalanche network.
The initial capital raise will bring about 460 million dollars in treasury assets, funded concurrently or immediately after the announcement of the operation.
This capitalization strategy aims to make AVAT the leading public vehicle for institutional exposure to AVAX, offering investors a unique opportunity to actively participate in the growth of the Avalanche ecosystem.
A discounted entry for investors
One of the most significant elements of the agreement is the opportunity for investors to enter the AVAX ecosystem under particularly advantageous conditions.
The operation indeed provides an entry point at 0.77x of the net asset value (mNAV), which translates to a 23% discount compared to the direct purchase of AVAX or through passive ETFs, according to current data.
This competitive advantage stems from the exclusive relationship between AVAT and the Avalanche Foundation, which materializes in an initial acquisition of AVAX tokens at a discounted price and an 18-month priority on AVAX token purchases by U.S. digital treasury companies.
A New Model for Institutional Exposure to Digital Assets
According to Bart Smith, CEO of AVAT, “many institutions face difficulties in accessing digital assets, or are limited to holding native tokens without the possibility of yield or integration into the ecosystem.
With Avalanche Treasury Co. we want to offer something more valuable than just passive exposure.”
AVAT’s vision is to launch a public company that acts as an active strategic partner within the Avalanche network, offering a level of integration and alignment that the institutional market increasingly demands.
This approach aims to overcome the limitations of traditional solutions, providing investors with direct and privileged access to the growth opportunities offered by the Avalanche ecosystem.
Operation Details
- Total transaction value: over 675 million dollars
- Initial treasury assets: approximately 460 million dollars
- Entry point for investors: 0.77x mNAV (23% discount)
- Expected listing: Nasdaq, Q1 2026 (pending approval)
- Exclusive relationship with Avalanche Foundation: 18-month priority on AVAX token purchases
- Long-term goal: over 1 billion dollars in AVAX assets
A public vehicle for the growth of the Avalanche ecosystem
The creation of AVAT, in collaboration with Mountain Lake Acquisition Corp., represents a crucial step for the maturation of the digital asset market.
The operation not only provides institutional investors with a new way to gain exposure to AVAX, but also strengthens Avalanche’s position as one of the most dynamic and innovative blockchain ecosystems.
The priority on purchasing AVAX tokens and the ability to access discounted prices constitute a significant competitive advantage, which could attract additional institutional capital and accelerate the development of the entire ecosystem.
Future Prospects and Market Impact
With this operation, AVAT aims to become the benchmark for public and institutional exposure to AVAX, offering investors not only facilitated access but also active and strategic participation in the growth of the Avalanche network.
If regulatory and shareholder approvals are obtained within the expected timeframe, the listing on Nasdaq in 2026 could mark the beginning of a new era for digital assets, where the integration between the traditional financial world and blockchain innovation becomes increasingly concrete and accessible.
Avalanche Treasury Co. and Mountain Lake Acquisition Corp. are thus charting a new course for the future of digital investments, focusing on transparency, integration, and added value for all players in the ecosystem.