Bakkt Aims for Business Transformation with $1 Billion Fundraising for Bitcoin Investment Strategy

Bakkt Holdings (NYSE: BKKT), a cryptocurrency trading platform under the Intercontinental Exchange (ICE), has submitted a $1 billion Form S-3 registration statement to the U.S. Securities and Exchange Commission (SEC). The Form S-3 is a registration statement used by already public companies to issue additional securities for fundraising. The raised funds are intended for working capital and general corporate purposes, with a portion allocated for investments in Bitcoin (BTC) and other cryptocurrencies. On the 10th of this month, Bakkt announced that its board of directors had formally approved an updated corporate investment policy that enables capital allocation to Bitcoin and other cryptocurrencies.