# Avalanche Treasury debuts on Nasdaq, shares tumble on first day

**Published:** 2026-06-12T11:22:32.618Z  
**Topic:** Avalanche  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/ce102774-321a-41ce-aed8-2cc6cff02ce9

Avalanche Treasury listed on Nasdaq under AVAT, seeing a steep drop of 16% to 38% as the AVAX token remains at a five‑year low.

Avalanche Treasury Co. began trading on Nasdaq under the ticker AVAT on Thursday, but its stock fell sharply on debut, with reported declines ranging from 16% to 38% depending on the source [1][2]. The company holds roughly 15 million AVAX tokens, representing about 3.5% of the cryptocurrency’s circulating supply, while AVAX itself trades near a five‑year low [2].

**Key takeaways**
- Shares opened around $2.20–$2.99 and closed between $1.85 and $1.88, a drop of 16% to 38% on the first trading day [1][2].
- Avalanche Treasury holds about 15 million AVAX, equal to roughly 3.5% of circulating supply [2].
- The company entered Nasdaq via a $675 million SPAC merger with Mountain Lake Acquisition Corp [1][2].
- Institutional backers include Dragonfly, Pantera, ParaFi Capital, VanEck, Galaxy Digital, Kraken, and others [1][2].
- AVAX remains down more than 95% from its November 2021 peak, pressuring crypto‑linked equities [1][2].

## Listing via SPAC and initial market reaction  
Avalanche Treasury Co. completed a merger with the special‑purpose acquisition company Mountain Lake Acquisition Corp., valuing the deal at about $675 million and granting the firm a Nasdaq listing under the symbol AVAT [1][2]. The company’s backers—among them Dragonfly, Pantera, ParaFi Capital, VanEck, Galaxy Digital and Kraken—promote the vehicle as a way for public investors to gain exposure to the Avalanche ecosystem without directly holding the AVAX token [1][2].

Opening prices varied in reports, with one source noting an opening at $2.20 and a close at $1.85, a 16% decline [1]. Another source recorded an opening near $2.99, a high of $3.00, and a low of $1.75, ending the day at $1.85—a 38% drop [2]. After‑hours trading saw a modest uptick to $1.88, up 1.6% [2]. Volume hovered around 497,580 shares, giving the company a market value of roughly $486 million [2].

## AVAX price pressure and broader crypto‑treasury context  
The token underpinning Avalanche Treasury’s balance sheet, AVAX, traded at $6.64–$6.67 on the day of the debut, a level not seen since early 2021 and down more than 95% from its all‑time high of $144.96 in November 2021 [2]. Over the prior month, AVAX fell about 33%, while its 24‑hour volume was roughly $185 million [2]. This weak price environment mirrors challenges faced by other digital‑asset treasury firms: Bitcoin‑focused Strategy’s stock has fallen 69% over the past year, and Solana‑ and Ethereum‑linked treasury vehicles have seen share collapses of 92% and 88% respectively [1].

## Why it matters  
Avalanche Treasury’s debut highlights the difficulty of launching crypto‑linked public vehicles in a prolonged bear market. While the firm emphasizes an active investment approach—staking, infrastructure projects, and ecosystem acquisitions—its initial share price reflects investor caution amid a steep decline in AVAX’s market value. The company’s ability to acquire additional AVAX (it aims to amass over $1 billion worth over time) and generate returns beyond token price appreciation will be closely watched as a test of the viability of treasury‑style structures for altcoin ecosystems.

## Sources
1. Cointelegraph — [Avalanche Treasury Lists on Nasdaq, Shares Fall 16%](https://cointelegraph.com/news/avalanche-treasury-starts-trading-on-nasdaq-but-shares-fall-16-on-debut)
2. Crypto — [Avalanche Treasury stock sinks 38% after Nasdaq debut under AVAT](https://crypto.news/avalanche-treasury-stock-sinks-38-after-nasdaq-debut-under-avat/)
3. The Block — [Avalanche Treasury shares fall 38% on Nasdaq debut after $675 million merger | The Block](https://www.theblock.co/post/404523/avalanche-treasury-nasdaq-debut)

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Cite as: TrendWatcher, "Avalanche Treasury debuts on Nasdaq, shares tumble on first day", https://www.trendwatcher.in/article/ce102774-321a-41ce-aed8-2cc6cff02ce9