U.S. Treasury · Galaxy Digital · Google · Cointelegraph
Avalanche Treasury Co. falls 16% as it introduces on Nasdaq
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The Avalanche Treasury holds about 15 million of the blockchain’s native token, AVAX, which is trading at a five-year low.
Key facts
- AVAT shares fell 16% from their open at $2.20, ending the day at $1.85, according to Google Finance
- SOL Strategies Inc., a Solana-focused DAT, began trading in September 2025 under STKE, but share prices have also collapsed by 92% over the past 12 months
- The weekly net flow of BTC into digital asset treasuries has declined to around $266 million this week, following weekly highs of over $2 billion in April and May, according to Coinglass
- AVAX saw a small 3.4% gain on the day, but the asset has lost 33% over the past 30 days and remains down 95% from its November 2021 all-time high
Summary
The Avalanche Treasury Company saw a rocky start as it debuted on Nasdaq under the ticker AVAT on Thursday, with shares dropping 16% by the end of the day. The new company gained access to the Nasdaq after merging with special-purpose acquisition company (SPAC) Mountain Lake Acquisition in a $675 million deal first announced in October. The company, with support from institutional backers including Dragonfly, Pantera, ParaFi Capital, VanEck, Galaxy Digital and Kraken, aims to give investors exposure to the Avalanche blockchain ecosystem without holding the cryptocurrency. Bart Smith, Avalanche Treasury CEO and former Susquehanna executive, said Thursday that it wasn’t a bet on price, but an investment that “represents meaningful potential for the repositioning of institutional finance.”