Bakkt’s Bitcoin Strategy: Company Files With SEC To Raise $1 Billion

Bakkt Holdings filed Form S-3 with the US Securities and Exchange Commission on 26 June 2025 to raise up to $1 billion for its ambitious new Bitcoin strategy.

Originally launched in 2018 by Intercontinental Exchange as a pioneer in Bitcoin futures, Bakkt is set to transform into a “pure-play crypto infrastructure company,” according to Bakkt Co-CEO Akshay Naheta.

“In June 2025 we updated our investment policy to enable us to allocate capital into Bitcoin and other digital assets as part of our broader treasury and corporate strategy, subject to market conditions and the anticipated liquidity needs of the business,” the company stated in the filing. “We may acquire Bitcoin or other digital assets using excess.”

At the current Bitcoin price of $106,800, a $1 billion investment would allow Bakkt to acquire approximately 9,364 Bitcoin. This would place Bakkt just ahead of Coinbase in terms of public companies holding BTC.

Bakkt will now join the ranks of notable institutional holders such as Strategy, Marathon Digital, and Tesla.

JUST IN: Bakkt (BKKT), a publicly listed company, plans to raise $1B to invest in #Bitcoin and other digital assets.
BTC is not coming down anytime sooner pic.twitter.com/Vsv3QheOld

— TLC (@Cryptex_academy) June 27, 2025

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“Shelf registration” Allows Bakkt Maximum Flexibility To Capitalize On Bitcoin and Crypto Opportunities

Under the terms of the SEC’s “shelf registration,” Bakkt is authorised to issue common stock, preferred stock, debt securities or warrants, giving it maximum flexibility to raise funds in stages as market conditions dictate. This approach will enable Bakkt to capitalize on opportunities in the crypto market without being forced to raise the full $1 billion all at once.

Hence, Bakkt’s fresh funds can be used for a variety of purposes, including direct Bitcoin purchases, crypto treasury plans, or other corporate needs. While Bakkt has not yet made any BTC purchases yet, the filing clearly sets the stage for the company to become a major institutional holder of Bitcoin and other digital assets.

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Key Takeaways

If Bakkt fully realizes its $1 billion fundraising plan and acquires a significant Bitcoin position, it could have ripple effects throughout the market.

Such a substantial investment by a publicly traded company is more than just a financial maneuver—it is a strong vote of confidence in Bitcoin’s long-term value and utility.