Bakkt Targets $1B Raise for Bitcoin Strategy
Bakkt Plans $1 Billion Raise to Expand Bitcoin and Crypto Strategy
Bakkt Holdings has announced a major move to strengthen its position in the digital asset market. The company filed a shelf registration statement with the U.S. Securities and Exchange Commission (SEC) to raise up to $1 billion through a variety of securities offerings. The initiative is designed to support Bakkt’s evolving strategy of investing directly in Bitcoin and other leading cryptocurrencies.
Key Details of the Fundraising Plan
The shelf registration will allow Bakkt to issue multiple types of securities over time, including:
Common and preferred stock
Debt securities
Warrants
Units
This approach provides flexibility, enabling Bakkt to access capital as needed without filing a new registration statement for each offering.
Shift Toward Crypto Treasury Investments
In June 2025, Bakkt adopted an updated investment policy that authorizes the company to allocate funds to Bitcoin and other major digital assets. This change allows the company to deploy capital from:
Cash reserves
Financing proceeds
Debt issuances
Although Bakkt has not yet purchased any Bitcoin under this new policy, executives have confirmed they are prepared to act when market conditions and liquidity are favorable.
Potential Market Impact
If Bakkt fully utilizes the $1 billion to acquire Bitcoin, the company could purchase an estimated 9,364 BTC at the current average price of approximately $106,800 per Bitcoin. Such an acquisition would rank Bakkt among the largest corporate holders of Bitcoin, ahead of other publicly traded companies like Coinbase.
This scale of investment could have a significant impact on institutional sentiment and the broader perception of Bitcoin as a strategic treasury asset.
Strategic Use of Funds
Bakkt outlined several intended uses for the funds raised under the shelf registration, including:
Building a corporate Bitcoin and crypto treasury
Funding strategic acquisitions and investments
Supporting general corporate purposes
Expanding its digital asset infrastructure
Each future issuance will include a prospectus supplement detailing the specific terms, amounts, and allocation plans.
Company Background and Transformation
Bakkt was founded in 2018 by Intercontinental Exchange with an initial focus on institutional Bitcoin custody, futures contracts, and loyalty rewards programs. In 2021, the company became publicly listed, gradually evolving into a broader digital asset platform.
The June 2025 investment policy update and the planned capital raise signal a major pivot toward positioning Bakkt as a pure-play crypto infrastructure and treasury management company.
Outlook and Industry Implications
Bakkt’s strategy reflects growing mainstream interest in Bitcoin as a reserve asset and investment vehicle. By securing up to $1 billion in funding, the company aims to:
Enhance its credibility among institutional investors
Diversify its business model
Align itself with other leading corporate Bitcoin holders such as MicroStrategy and Tesla
This development underscores the accelerating adoption of Bitcoin within corporate treasuries and highlights the expanding role of digital assets in long-term strategic planning.