Key Takeaways
- Bakkt filed a shelf registration to raise up to $1 billion for its Bitcoin and digital asset strategy.
- Funds may be used for Bitcoin acquisition, crypto treasury initiatives, and corporate purposes.
Bakkt Holdings on Thursday filed a shelf registration with the SEC to potentially raise up to $1 billion through securities sales, as the digital asset platform eyes Bitcoin and digital asset acquisitions.
The move would enable Bakkt to issue various securities, including Class A common stock, preferred stock, debt securities, warrants, or units in multiple offerings. The company can issue these securities on a rolling basis without filing new registrations for each offering.
The filing follows Bakkt’s June 2025 corporate investment policy update that allows the company to purchase Bitcoin and other digital assets using excess cash, financing proceeds, or debt issuance.
While Bakkt hasn’t made any crypto purchases yet, the company indicated it would consider digital asset allocations based on liquidity needs and market conditions.
Specific terms of future offerings, including amounts, pricing, and the use of proceeds, will be detailed in separate prospectus supplements when securities are sold. The funds could support crypto treasury initiatives, general corporate expenses, or potential acquisitions.
The company, founded in 2018, initially focused on crypto custody and institutional access before moving into loyalty solutions and digital rewards. In March 2025, Bakkt announced it was evaluating strategic alternatives for its loyalty business to focus more on crypto infrastructure and asset enablement.
