Bakkt Holdings, a digital asset platform backed by the Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, has filed a $1 billion shelf registration with the U.S. Securities and Exchange Commission (SEC), signaling a potential move into direct crypto investments. The filing enables the company to issue a mix of securities.
A shelf registration is a regulatory filing that allows a company to register securities with the SEC but sell them later, when market conditions are favorable.
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Earlier this month, the U.S.-based fintech company revised its corporate investment policy to allow the purchase of Bitcoin (BTC) and other digital assets as part of its treasury strategy.
While the firm hasn’t yet acquired any crypto, it now has the regulatory framework in place to do so using excess cash or future capital raised. The company stated it may raise up to $1 billion by selling a mix of stocks, bonds, and other financial instruments.
Financial Struggles Amid Strategic Shift
The move comes amid financial challenges for Bakkt, including losing two key clients, Bank of America and Webull in March 2025, which significantly impacted its revenue and caused a sharp stock decline.
The company also disclosed serious doubts about its ability to continue operating without raising more capital, amid ongoing losses and strategic shifts.
Despite these risks, Bakkt appears bullish on the broader crypto market, referencing growing momentum from recent IPO filings by peers like Circle and Gemini.
Bakkt’s stock (BKKT) saw a nearly 8% increase following the announcement but remains nearly twice as low compared to its price at the beginning of the year, with investor confidence shaken after the company lost key clients, Bank of America and Webull, earlier this year.
Why This Matters
The new filing marks a strategic pivot as Bakkt doubles down on digital asset exposure. Bakkt’s $1 billion plan to invest in Bitcoin could boost demand for BTC.
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People Also Ask:
It’s when a company raises funds through selling shares, bonds, or other securities to invest in Bitcoin or other cryptocurrencies.
To diversify its assets, gain exposure to the growing crypto market, and potentially increase returns by holding Bitcoin.
Companies can issue common stock, preferred stock, bonds, warrants, or combinations of these to raise money.
Companies must file with regulators like the SEC before issuing securities to ensure transparency and protect investors.
