Avalanche (AVAX) is all of the sudden the goal of a deliberate billion-dollar shopping for spree from public market digital asset treasury (DAT) automobiles.
AgriFORCE mentioned it can rebrand to “AVAX One” and accumulate roughly $700 million of AVAX. In the meantime, Avalanche Treasury Co. (AVAT) unveiled a $675 million SPAC deal that seeds about $460 million in stability sheet belongings and units a purpose to surpass $1 billion of AVAX after itemizing.
Each choices can be listed on Nasdaq, with AgriFORCE already having a list that can be utilized by AVAX One, and AVAT becoming a member of Nasdaq post-merger in early 2026.
These initiatives can reshape AVAX’s position within the multi-chain finance, because it did with Ethereum (ETH) and Solana (SOL).
Worth impression
The preliminary market response was combined however notable. On Sept. 22, as AgriFORCE’s plan hit headlines, AVAX slipped to $29.41 in early buying and selling throughout a broad risk-off transfer.
Nonetheless, the token reversed to shut at $33.49, up about 14% on the day. The motion prolonged to $36.16 within the first hours of Sept. 23, its first print above $36 since Jan. 31.
AVAX’s power contrasted with a $30 billion drawdown within the altcoin market cap the identical day, suggesting the announcement supported the efficiency.
In the meantime, AgriFORCE’s inventory (AGRI) spiked greater than 200% intraday on Sept. 22, although it corrected 35% since and traded at $3.74 as of press time.
Against this, the Oct. 1 AVAT announcement noticed a milder 2.4% achieve, which adopted the altcoin advanced including roughly $140 billion in market cap. On this case, it is more difficult to attribute the motion to the treasury plans.
Maturity by means of DATs
The AVAX-buying push mirrors the broader 2025 rise of DAT corporations that first gained traction shopping for altcoins, reminiscent of Ethereum and Solana.
In late Might, sports activities betting tech agency SharpLink introduced it could increase roughly $425 million and convert the proceeds into ETH underneath an advisory tie-up with Consensys co-founder Joseph Lubin.
BTCS adopted with a 1,000 ETH buy in early June, and BitMine rolled out an ETH treasury program by early July.
Because the 12 months progressed, BitMine and SharpLink accelerated their acquisitions, with their ETH balances climbing to 2.65 million ETH and 838,730 ETH, respectively, as of Oct. 2.
Ethereum’s worth skilled a much-needed rebound and outperformed all through the summer time. ETH grew almost 50% in July alone, then set a brand new all-time excessive of $4,956.78 on Aug. 24, virtually 4 years after its earlier worth peak.
Moreover, US-traded spot Ethereum exchange-traded funds (ETFs) skilled a surge in inflows.
In keeping with Farside Buyers’ information, the funds encountered issue in breaching the $3 billion threshold in cumulative flows, however crossed the mark two days after SharpLink’s announcement.
Ethereum ETFs then compensated for the time it took to seize large inflows, and skyrocketed to just about $14 billion in cumulative flows by Sept. 19, a 342% development.
Solana is one other major-cap crypto that noticed vital curiosity within the DAT wave. Coverage shifts and capital raises by SOL Methods, DeFi Improvement Corp., and Upexi culminated in SOL breaching the $200 worth degree in July, the primary time since February.
Because the talked about corporations constructed DAT momentum and fueled SOL to a worth peak of $218 by August, Ahead Industries ramped up the tone.
The corporate closed a $1.65 billion PIPE financing on Sept. 11, led by Galaxy Digital, Leap Crypto, and Multicoin Capital. The announcement was sufficient to catapult SOL above $250, its first time above this degree since January.
Moreover, as occurred with Ethereum, the US-traded Solana ETF, which emulates spot publicity, additionally noticed a rise in inflows.
The REX-Osprey Solana staking ETF (SSK) confronted difficulties in attracting capital all through August, regardless of a stable begin. The fund captured $100 million in inflows simply 12 buying and selling days after its debut on June 2.
Nonetheless, between late August and mid-September, SSK surpassed $200 million in cumulative flows for the primary time on Sept. 11, amid SOL’s sturdy worth motion.
By Sept. 26, SSK added one other $100 million to its cumulative inflows, with information from Farside Buyers revealing the fund crossed the $300 million mark.
Collectively, these precedents type the playbook AVAX treasuries can now observe, pairing massive public market capital infusions with direct token accumulation, then catalyzing secondary automobiles and ecosystem exercise.
Going past “purchase and maintain”
AVAT is pitching a extra built-in mannequin than a easy “purchase and maintain.” The corporate said that it secured an preliminary AVAX buy at a reduction to market and an 18-month precedence window for Avalanche Basis gross sales to US Treasury companies.
It additionally supplied entry at roughly a 23% low cost to direct token publicity (mNAV) and a mandate to deploy capital into Avalanche’s rails.
The mandate consists of protocol investments that drive transactions, enterprise partnerships for real-world belongings, stablecoins and funds, and validator assist for institutional layer-1 launches.
CEO Bart Smith mentioned:
“We created Avalanche Treasury Co. to supply one thing we consider can be extra precious than passive publicity.”
Ava Labs founder Emin Gün Sirer welcomed the trouble as “reflecting the rising sophistication and momentum shaping Avalanche’s future.”
On the AgriFORCE facet, Anthony Scaramucci, who will lead the advisory board, forged the pivot in broader phrases:
“The tokenization of belongings is the only largest theme for the subsequent decade of finance.”
Hivemind’s Matt Zhang added the strategic ambition of constructing the “Berkshire Hathaway of the on-chain monetary economic system,” offering Wall Road with a scalable path into institutional-grade blockchain infrastructure.
What’s in retailer for retail?
For retail buyers, the constructions open two potential channels, adopted by two classes of threat.
The primary is secondary shares of the treasury corporations themselves, the place AVAT, for instance, advertises entry at an implied low cost to its underlying token basket.
That “secondary low cost” might be engaging however shouldn’t be assured, and might swing with sentiment, liquidity, and the cadence of latest issuance.
The second channel is oblique, as DATs focus capital in AVAX and will amplify worth discovery, enhance depth throughout spot and derivatives venues, and speed up the build-out of on-chain functions that create actual transaction demand.
Moreover, it may increase upcoming ETF flows, as filings for spot Avalanche ETFs from Bitwise, Grayscale, and VanEck are awaiting SEC approval.
But the identical PIPE mechanics that fund treasuries can harm current shareholders when resale home windows open.
A current evaluation of Bitcoin treasury names that utilized PIPEs reveals a recurring sample of shares gravitating towards discounted issuance costs as unlocks strategy. In a number of instances, the corrections erased a lot of the preliminary rally and, at occasions, buying and selling under the PIPE degree.
The dynamic creates an “overhang” that may strain each the shares and, not directly, the underlying token when corporations are compelled to handle liquidity during times of drawdown.
If the AVAX treasuries execute, the implications lengthen past the headline worth.
A billion-dollar stability sheet purchaser can legitimize AVAX alongside ETH and SOL in institutional coverage frameworks, broaden the universe of allocators past crypto-native funds, and pace the emergence of AVAX-linked structured merchandise.
Moreover, it units the stage for deeper liquidity, extra venues for regulated publicity, and a stronger case for the asset’s position in tokenized finance.