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According to CNBC, Avalanche Treasury Co., the treasury company of AVAX, has begun trading on the Nasdaq under the stock symbol AVAT. The company was previously formed through a merger with SPAC company Mountain Lake Acquisition Corp. for $675 million, led by former Susquehanna and AllianceBernstein executive Bart Smith. Unlike traditional crypto treasury companies that mainly hold a single token, Avalanche Treasury Co. plans to allocate funds to infrastructure, applications, and related projects within the Avalanche ecosystem. Currently, the company holds approximately 15 million AVAX tokens, accounting for about 3.5% of the circulating supply.