Bakkt Files to Raise $1 Billion for Bitcoin and Crypto Strategy

Bakkt Holdings plans to raise up to $1 billion by filing with the U.S. Securities and Exchange Commission (SEC), and these funds will support the company’s new plan to expand its crypto holdings and cover general company expenses. This comes after the crypto software firm updated its investment policy in June 2025, which now allows them to invest in Bitcoin and other digital currencies.

The SEC filing states that Bakkt could issue various types of financial instruments, including common stock, preferred stock, debt, or warrants. Using a shelf registration means Bakkt can raise money in parts without needing to file new paperwork each time. Moreover, this gives Bakkt the flexibility to raise capital when the market is favorable and when the company needs it.

Bakkt Holdings Files With SEC to Raise Crypto Fund

Bakkt’s new investment rule enables the company to utilize excess cash, borrow funds, or sell securities to acquire digital assets. As of now, the company has not bought any Bitcoin or other digital currencies.

This move by Bakkt reflects a growing trend in which companies are incorporating cryptocurrencies into their financial plans. If the company uses all $1 billion to buy Bitcoin at the current price of $106,800 per BTC, they would buy about 9,364 BTC.

Notably, this would make Bakkt one of the top ten public companies holding Bitcoin, surpassing Coinbase, which currently has 9,267 BTC. Buying this much Bitcoin would make Bakkt a major institutional holder, similar to companies like Strategy and Marathon Digital.

Interestingly, the firm initially offered futures contracts for Bitcoins that were settled with physical BTC. While this part of the business wasn’t very successful, Bakkt adapted by offering services like holding cryptocurrencies and loyalty programs.

A Shift in Focus

Since becoming a public company in 2021 through a SPAC deal, Bakkt has explored many areas of the crypto world. With its new funding plan, Bakkt aims to focus on digital asset technology to strengthen its position in the digital finance world.

This means Bakkt is joining a growing number of public companies that are directly investing in cryptocurrency. Strategy, led by Michael Saylor, is a leader in this area with 592,345 BTC. Marathon Digital is second with 49,678 BTC, and XXI is third with 37,230 BTC.

Riot Platforms and Galaxy Digital are among the top five, holding 19,225 BTC and 12,830 BTC, respectively. If Bakkt invests its entire $1 billion in Bitcoin at today’s prices, its holdings would rank ninth, just behind Tesla and Hut 8 Mining Corp.

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