Bakkt Holdings has submitted a filing to the U.S. Securities and Exchange Commission (SEC) to raise up to $1 billion to support the company’s new Bitcoin and digital asset strategy. This decision follows the recent June 2025 update on its investment policy in which it is able to invest in Bitcoin and other crypto assets.
Bakkt $1 Billion Plan for Bitcoin Strategy
According to the SEC filing, Bakkt may issue Class A common stock, preferred stock, debt securities, warrants, or combined units. The shelf registration allows the company to raise capital in phases without filing new registration forms for each issuance.
This approach gives Bakkt the ability to time capital raises according to market conditions and company needs. Proceeds may go toward acquiring Bitcoin, supporting crypto treasury initiatives, and fulfilling other general corporate purposes.
Bakkt’s updated policy enables the firm to use excess cash, debt issuance, or funds from securities sales to purchase digital assets. As of now, the company has not made any Bitcoin or crypto purchases, based on the filing.
Bitcoin Acquisition Potential Based on Current Price
Bakkt’s strategy aligns with a growing trend among companies using crypto as part of their treasury strategy. In case Bakkt decides to buy Bitcoin with all the $1 billion raised, it would get about 9,364 BTC at the current Bitcoin price of $106,800.
With this purchase, Bakkt would be ranked in the top ten public companies that own Bitcoin and ranked just above Coinbase that has 9,267 in its reserve. Consequently, if Bakkt moves forward with a full allocation, it could become one of the largest institutional holders of Bitcoin, following companies like Strategy and Marathon Digital.
Co-CEO Akshay Naheta, who was appointed in March, said,
“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.”
Shift Toward Crypto Infrastructure
Founded in 2018 with backing from Intercontinental Exchange, Bakkt initially launched as a provider of physically settled Bitcoin futures. The platform was not successful with futures trading but succeeded in diversifying to offer crypto custody and loyalty rewards programs.
In 2021, the company went public with a SPAC merger and has since ventured into various sectors in the crypto space. With the new capital strategy, Bakkt plans to reorient toward digital asset infrastructure, aiming to strengthen its position in the crypto finance sector.
Subsequently, Bakkt is entering a growing group of public firms investing directly in crypto assets. Saylor led Strategy leads this group with 592,345 BTC, Marathon Digital comes in second holding 49,678 BTC, followed by XXI with 37,230 BTC.
Riot Platforms and Galaxy Digital complete the top five with 19,225 and 12,830 BTC respectively. If Bakkt deploys its full $1 billion into Bitcoin at current prices, it could rank 9th just below Elon Musk’s Tesla and Hut 8 Mining Corp in terms of BTC holdings.
