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Bakkt Files to Raise $1 Billion for Bitcoin and Crypto Treasury Push - Unchained
Bakkt Holdings has filed a shelf registration with the U.S. Securities and Exchange Commission (SEC) seeking approval to raise up to $1 billion through the sale of various securities.
The move follows an updated investment policy, which allows Bakkt to allocate capital to bitcoin and other digital assets using proceeds from these offerings, excess cash, or debt issuance.
The shelf registration provides Bakkt with the flexibility to issue these securities in multiple offerings over time without needing new SEC filings for each, enabling the company to respond quickly to market conditions and liquidity needs.
This story is an excerpt from the Unchained Daily newsletter.
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Bakkt is a publicly traded company focused on crypto custody and loyalty solutions for institutions. It is a subsidiary of Intercontinental Exchange (ICE), which owns the New York Stock Exchange, and was launched to leverage regulated markets and secure warehousing for digital assets.
It is the latest entrant to a growing list of bitcoin treasury companies, which includes 130 publicly traded firms that collectively own hundreds of thousands of BTC.