Bakkt Files to Raise Up to $1 Billion for Bitcoin Investment Strategy

Bakkt Holdings has filed with the SEC to raise up to $1 billion, aiming to invest in Bitcoin and other digital assets. The funds will potentially be used for acquisitions and corporate purposes, reflecting a strategic shift in the company’s investment policy.

Bakkt Holdings is looking to raise up to $1 billion, according to a filing made with the SEC on Thursday. This move, which lets the company sell securities to fund its Bitcoin and digital asset acquisition strategy, could really shake things up.

The shelf registration allows Bakkt to issue a variety of securities, including Class A common stock, preferred stock, debt securities, warrants, or even units in multiple offerings. What’s interesting here is that Bakkt won’t have to file a new registration each time it wants to sell some securities; it can do this on a rolling basis.

This filing comes on the back of Bakkt’s updated corporate investment policy from June 2025, which opened the door for the company to invest in Bitcoin and other digital assets. This shift allows Bakkt to tap into excess cash, financing proceeds, or even new debt for those investments.

While Bakkt hasn’t yet made any moves to buy cryptocurrency, it seems poised to jump in when conditions are right. The company is thinking about its liquidity needs and the current state of the market before making any decisions on digital asset purchases.

When it comes to details of future offerings—like amounts, pricing, and how the funds will be used—these will be laid out in separate prospectus supplements at the time securities are sold. The financial backing could facilitate various initiatives, including crypto treasury projects, regular corporate expenses, or potential acquisitions.

Founded back in 2018, Bakkt initially made a name for itself in crypto custody and giving institutions easy access to digital currencies. However, the company later shifted towards focusing on loyalty solutions and digital rewards. In March 2025, Bakkt revealed it was evaluating its loyalty arm, possibly to refocus more on bolstering its infrastructure and enabling asset management in the crypto space.