Bakkt Holdings has filed to raise up to $1 billion with the United States Securities and Exchange Commission (SEC) as part of its grandiose move into Bitcoin and digital assets. This is following the June 2025 update of Bakkt that will enable it to invest directly in Bitcoin and other crypto assets.
According to the SEC filing, Bakkt may issue common stock, preferred stock, debt securities, or warrants. This “shelf registration” gives Bakkt flexibility to raise funds in phases, based on market conditions.
The funds can be spent on buying Bitcoin, crypto treasury plans, or any other corporate needs. While Bakkt hasn’t made any Bitcoin purchases yet, the filing opens the door for serious crypto involvement.
At the current Bitcoin price of $106,800, a full $1 billion investment would get Bakkt around 9,364 BTC. That would place the company just ahead of Coinbase, making it one of the top 10 public firms holding Bitcoin, joining giants like Strategy, Marathon Digital, and Tesla.
Bakkt Co-CEO Akshay Naheta said the plan aims to transform Bakkt into a pure-play crypto infrastructure company.
Launched in 2018 by Intercontinental Exchange, Bakkt originally focused on Bitcoin futures. Now, with a public listing and broader crypto offerings like custody and rewards, the company is pivoting once again, this time toward becoming a major digital asset player.
If fully realized, Bakkt’s move could signal a strong vote of confidence in Bitcoin from another institutional heavyweight.
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