Avalanche Treasury lists on Nasdaq as AVAT $675M SPAC merger

A firm called Avalanche Treasury Co. began trading on the Nasdaq stock exchange on Thursday, June 11, 2026, under the ticker symbol AVAT. The listing was achieved through the completion of a merger with Mountain Lake Acquisition Corp., a special-purpose acquisition company (SPAC), in a deal valued at $675 million.

The company, associated with AVAX One, offers traditional public market investors a new type of exposure to the Avalanche blockchain ecosystem. Instead of simply holding the native cryptocurrency AVAX, the firm intends to actively deploy capital across Avalanche infrastructure, applications, and staking opportunities. Its chairman is Anthony Scaramucci, and its CEO is Bart Smith, a former executive at Susquehanna and AllianceBernstein.

Avalanche Treasury Co. holds approximately 15 million AVAX tokens, equating to roughly 3.5% of the cryptocurrency’s circulating supply. The firm’s strategy marks a shift from earlier publicly-listed crypto treasury vehicles, which often functioned as passive proxies for a single asset. Industry observers note that newer companies like this one are trying to justify their valuations by proving they can generate returns through active...