The cryptocurrency platform Bakkt has announced its intention to raise up to $1 billion through the issuance of stocks and debt securities to establish its own bitcoin treasury and implement a new corporate strategy.
This is reported by Finway
Bakkt Updates Investment Policy
Bakkt, a publicly traded company specializing in digital asset custody and loyalty programs, has filed documents with the U.S. Securities and Exchange Commission (SEC) regarding its plans to raise up to $1 billion. The funds will be directed towards the purchase of bitcoins and other digital assets as part of a new corporate reserve management strategy.
As part of this initiative, Bakkt is considering the issuance of Class A common stock, preferred stock, warrants, and bonds. Currently, the company has not yet made any cryptocurrency purchases, but on June 10, 2025, it officially announced an update to its investment policy, which includes the use of digital assets for treasury management.
“This initiative is aimed at transforming Bakkt into a fully-fledged crypto infrastructure company and will allow us to strategically add bitcoin and other digital assets to our corporate reserve,” commented Bakkt’s co-CEO Akshay Naheta.
Strategic Expansion and Company History
Akshay Naheta also added that the multi-tiered approach to reserve formation reflects the company’s confidence in the future of digital assets and Bakkt’s ambition for international growth as a leader in programmable money.
Bakkt was founded in 2018 with the support of the Intercontinental Exchange — operator of the New York Stock Exchange (NYSE). Initially, the company launched a trading platform for physically settled bitcoin futures, but this product did not gain significant popularity. Subsequently, Bakkt focused on tokenized loyalty programs and custodial services, and in 2021 it became a public company.
In November 2024, there were reports of “advanced negotiations” regarding a possible acquisition of Bakkt by the social network Truth Social, which is associated with U.S. President Donald Trump.