By Opeyemi Quadri 
Avalanche Treasury Co. (AVAT) has entered a $675 million business partnership with Mountain Lake Acquisition Corp. (Nasdaq: MLAC), a move that could see it become one of the largest public investment vehicles for Avalanche’s native token. The deal, which includes $460 million in treasury assets, is expected to pave the way for a Nasdaq listing in early 2026, pending regulatory approvals.
Highlights:
- $675 million deal combines AVAT with Mountain Lake Acquisition Corp.
- AVAT aims to build a $1 billion AVAX treasury for its IPO.
- Investors will gain discounted, active exposure to Avalanche’s ecosystem.
- Backers include Galaxy Digital, Pantera Capital, and Kraken.
- AVAX network activity has surged, with transactions topping 50 million.
AVAT said it plans to accumulate more than $1 billion in AVAX tokens ahead of its initial public offering, positioning itself as a gateway for institutional investors. Unlike exchange-traded funds, the structure will give investors discounted access to tokens and active participation in Avalanche’s network.
Chief Executive Bart Smith said the company intends to move beyond passive exposure by investing in validator infrastructure, enterprise adoption of stablecoins, and projects that boost network activity.
Major crypto investment firms including Galaxy Digital, Pantera Capital, and Kraken are backing the transaction, underscoring confidence in Avalanche’s ability to cater to institutional use cases.
The timing comes as demand for AVAX exposure grows. Asset manager Bitwise recently filed for an Avalanche ETF, while network usage has surged — active addresses climbed 22% to more than 753,000, and transactions spiked over 200% to exceed 50 million.
Analysts also see Avalanche playing a role in modernizing traditional payment systems. Business development analyst Olivia Vande Woude said the network could improve the efficiency of frameworks like SWIFT and Fedwire rather than replacing them, signaling broader adoption potential.
Dorcas Opeyemi 
Editorial Staff