Crypto software firm Bakkt Holdings Inc., a subsidiary of Intercontinental Exchange (ICE), has filed to raise up to $1 billion through securities offerings as it positions itself for potential Bitcoin and crypto purchases. The filing, submitted to the U.S. Securities and Exchange Commission (SEC) on Thursday, outlines Bakkt’s plan to issue a mix of Class A common stock, preferred stock, debt securities, and warrants to strengthen its treasury strategy. New Crypto Treasury Strategy According to the Form S-3 filing, Bakkt updated its investment policy earlier this month to allow capital allocation into Bitcoin and other digital assets, although the company has not yet executed its first purchase. “We may acquire Bitcoin or other digital assets using excess cash, proceeds from future equity or debt financings, or other capital sources,” the filing stated, indicating flexibility in its approach. This “shelf registration” provides Bakkt with the ability to access capital markets swiftly when conditions align, a critical option as the company faces ongoing financial challenges, including a history of operating losses and concerns over its ability to continue as a going concern. Market Timing Key as Bakkt Navigates Challenges Founded in 2018, Bakkt has struggled to maintain momentum , admitting in its filing that it has a “limited operating history and a history of operating losses.” The company noted that its decisions on crypto purchases would depend on market dynamics, capital availability, and strategic goals. Bakkt’s share price gained 3% on Thursday, closing at $13.33, though it remains down 46% since the beginning of the year. In March, Bakkt shares fell 30% following news that major clients, Bank of America and Webull, chose not to renew their agreements with the company, adding further pressure on its stock performance. Despite these hurdles, Bakkt sees promise in the broader crypto environment, recently commenting on X that the wave of crypto IPOs, including those from Circle , eToro, and Gemini, signals renewed momentum for digital assets. “These developments bring validation, visibility, and maturity to the market,” the company noted, underlining its belief in crypto’s growing legitimacy. The post Bakkt Eyes Up to $1 Billion Raise, Plans Potential Bitcoin Purchases appeared first on TheCoinrise.com .
