Avalanche set to start trading on NASDAQ as proxy trade evolves

Avalanche, one of the largest layer-1 blockchain networks, is now accessible through multiple NASDAQ-listed products, from treasury companies to staking ETFs.

The proxy playbook

AVAX One Technology Ltd., trading under the ticker AVX on NASDAQ, became the first publicly traded company built around accumulating and staking AVAX tokens. The company pivoted from its former identity as AgriFORCE Growing Systems in late 2025, swapping agricultural tech aspirations for a digital asset treasury strategy.

For its first quarter of 2026, AVAX One reported preliminary revenues of approximately $2.4 million. That revenue came primarily from staking rewards and Bitcoin mining activities.

The company received NASDAQ listing approval in April 2026 and is undergoing a 1-for-12 reverse stock split effective June 15, 2026.

ETFs enter the arena

VanEck debuted its Avalanche ETF (VAVX) in January 2026. Grayscale followed with its Avalanche Staking ETF (GAVA), which began trading on March 12, 2026. The Grayscale product incorporates staking, meaning the fund generates yield from the tokens it holds, not just price appreciation.

The SPAC angle

Avalanche Treasury Co. (AVAT) announced a business combination with Mountain Lake Acquisition Corp. (MLAC) worth over $675 million in October 2025, with a NASDAQ listing targeted for Q1 2026.

What this means for investors

Shares in treasury companies like AVAX One can trade at significant premiums or discounts to the value of their underlying crypto holdings. ETFs tend to track closer to net asset value, but they carry management fees that eat into returns over time. The staking component in Grayscale’s GAVA could partially offset those fees, though the exact yield and fee structure will matter for long-term holders.

Investors considering any of these vehicles should understand they’re not just buying exposure to Avalanche’s technology or ecosystem growth. They’re buying exposure to AVAX’s token price, filtered through the specific structure, fees, and management decisions of each product.

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