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cryptonews 2025-06-27 05:58:13

Crypto Exchange Bakkt Files for $1B Shelf Offering, Plans to Buy Bitcoin

Crypto marketplace Bakkt has filed for a $1 billion shelf registration with the SEC to raise capital, potentially to fund Bitcoin acquisitions under its updated treasury strategy. The shelf offering could include sales of Bakkt’s Class A common stock, preferred stock, bonds, warrants, and debt securities. This strategy allows for flexible capital raising, without the need for a separate registration every time. Per the S-3 registration , filed on Thursday, the proceeds are expected to be used for general corporate purposes. Under the newly updated investment policy , a portion of it could be allocated to Bitcoin and other digital assets. “We may acquire Bitcoin or other digital assets using excess cash, proceeds from future equity or debt financings, or other capital sources, subject to the limitation set forth in our investment policy,” it read. According to the SEC filing, the firm has not yet made any Bitcoin purchases. Additionally, Bakkt intends to explore further financing alternatives, including the issuance of convertible notes, bonds, to purchase Bitcoin. Bakkt’s Latest Crypto Treasury Plans Bakkt announced on June 10 that it will allocate a portion of its treasury to Bitcoin and other “top-tier” cryptocurrencies. This aligns with its view in crypto as a store of value with long-term appreciation potential. The firm, founded in 2018, is also actively evaluating global jurisdictions to deploy these strategies. Besides, the timing and magnitude of Bitcoin purchases will depend on market conditions, capital market receptivity and business performance. “This initiative is intended to support Bakkt’s transformation into a pure-play crypto infrastructure company and to enable us to strategically add Bitcoin and other digital assets to our treasury,” said Akshay Naheta, Co-CEO of Bakkt, at the time. Bakkt Warns Regulatory Uncertainty, Evolving Crypto Rules The filing stated risk disclosures, warning of regulatory uncertainties, potential security classification of crypto, and banking access disruptions. Bakkt admitted that it had a “limited operating history and a history of operating losses.” Last year, the company said it was concerned about its operational viability in 2025, owing to inadequate cash reserves. ICE-Backed Bakkt Alerts of Possible Closure, Cites Cash Crisis @Bakkt , the cryptocurrency platform backed by the Intercontinental Exchange (ICE), has issued a warning about its financial health. #CryptoNews #news https://t.co/xGlJcXaB9F — Cryptonews.com (@cryptonews) February 8, 2024 The filing also specifically warned about future operations, where it “identified conditions and events that raised substantial doubt about our ability to continue as a going concern.” In March 2025, the firm’s shares tanked 27% , after two major clients, Bank of America and Webull, had withdrawn their ties with Bakkt. Following the announcement of the shelf offering on Thursday, the company’s shares surged over 3% and is now trading at $13.33, according to Google Finance. The post Crypto Exchange Bakkt Files for $1B Shelf Offering, Plans to Buy Bitcoin appeared first on Cryptonews .

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