Étienne Girard
The Avalanche Foundation, the non-profit organization supporting the Avalanche Layer 1 blockchain, is reportedly in advanced negotiations to create two cryptocurrency treasury companies in the U.S., according to the Financial Times.
Citing two people close to the matter, FT said the plan includes launching one new treasury company while converting an existing firm into a digital asset treasury (DAT). The combined initiative is targeting $1 billion in funding, with deals expected to be finalized in the coming weeks.
One transaction involves raising up to $500 million through a private investment in a Nasdaq-listed company. This round is being led by Hivemind Capital with advisory support from Anthony Scaramucci’s SkyBridge Capital and is projected to close by the end of September.
The second deal centers on a special purpose acquisition vehicle (SPAC) backed by Dragonfly Capital, which also seeks to raise $500 million, with completion anticipated in October.
Impact on AVAX Token Accumulation
Once completed, both treasury firms are expected to purchase large volumes of Avalanche’s native token, AVAX, at a discounted rate. Such moves could significantly bolster demand for the cryptocurrency, reinforcing Avalanche’s ecosystem growth.
Corporate Trend Toward Digital Asset Treasuries
This development follows a broader trend where companies are transforming into crypto treasury vehicles through reverse mergers. Earlier this week, Nasdaq-listed Asset Entities (ASST) approved its merger with Vivek Ramaswamy’s Strive Enterprises, paving the way for the firm to pivot into a bitcoin-focused DAT.
Avalanche Gains Institutional Attention
Meanwhile, major investment managers such as BlackRock, Apollo, and Wellington Asset Management are already experimenting with Avalanche’s blockchain to tokenize funds. This institutional interest has fueled market optimism, with AVAX surging 10.17% in the past 24 hours to $29.11, according to PRIME’s price data.
