• 27 June 2025
• |
• 13:00

Digital asset platform Bakkt is positioning itself for a major financial push, filing paperwork with U.S. regulators that could allow it to raise up to $1 billion through a mix of future securities offerings.

While the company hasn’t finalized any sales yet, it’s laid the groundwork for a variety of instruments—ranging from stocks to bonds—that can be issued when market conditions align.

The registration, filed on June 26, gives Bakkt flexibility to tap into capital markets as needed. While the stated purpose is broad—funding operations and shoring up liquidity—there’s a notable twist: the company may also use some of the proceeds to purchase Bitcoin or other digital assets, depending on strategic needs.

Earlier this month, Bakkt revised its investment policy, paving the way for crypto exposure via excess cash or new funding sources. Though no acquisitions have occurred yet, the move hints at a long-term ambition to integrate digital assets into its corporate treasury.

At the same time, Bakkt’s financial footing remains shaky. The firm disclosed reliance on a now-departing client, a dependency that raises red flags about revenue concentration and long-term growth. Despite these warnings, the market responded with cautious optimism: BKKT shares closed the day with a modest gain, though some of that was given back after hours.

If Bakkt follows through with crypto investments, it could mirror recent strategies by firms like Metaplanet, whose stock skyrocketed after announcing Bitcoin purchases. But the record is mixed—some companies see gains, others suffer losses—making Bakkt’s next move one to watch closely.

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