Crypto exchange Bakkt files to raise up to $1 billion to support Bitcoin strategy

Key Takeaways

Bakkt filed a shelf registration to boost as much as $1 billion for its Bitcoin and digital asset technique.
Funds could also be used for Bitcoin acquisition, crypto treasury initiatives, and company functions.

Bakkt Holdings on Thursday filed a shelf registration with the SEC to probably elevate as much as $1 billion by way of securities gross sales, because the digital asset platform eyes Bitcoin and digital asset acquisitions.

The transfer would allow Bakkt to problem numerous securities, together with Class A typical inventory, most popular inventory, debt securities, warrants, or items in a number of choices. The corporate can problem these securities on a rolling foundation with out submitting new registrations for every providing.

The submitting follows Bakkt’s June 2025 company funding coverage replace that enables the corporate to buy Bitcoin and different digital property utilizing extra money, financing proceeds, or debt issuance.

Whereas Bakkt hasn’t made any crypto purchases but, the corporate indicated it will contemplate digital asset allocations based mostly on liquidity wants and market circumstances.

Particular phrases of future choices, together with quantities, pricing, and using proceeds, will likely be detailed in separate prospectus dietary supplements when securities are bought. The funds might help crypto treasury initiatives, common company bills, or potential acquisitions.

The corporate, based in 2018, initially targeted on crypto custody and institutional entry earlier than shifting into loyalty options and digital rewards. In March 2025, Bakkt introduced it was evaluating strategic alternate options for its loyalty enterprise to focus extra on crypto infrastructure and asset enablement.