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Bakkt Holdings Inc (BKKT) delivers institutional-grade digital asset solutions through its regulated technology platform. This news hub provides investors and market observers with essential updates about the company's cryptocurrency custody services, loyalty program innovations, and strategic partnerships.
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Bakkt (NYSE:BKKT) filed post-effective amendments to its Form S-3 registration statements with the SEC on Dec. 10, 2025 following a corporate reorganization.
The company eliminated its umbrella partnership–C corporation structure and transitioned to a single class of common stock. No additional securities were registered in the amendments. The SEC has not yet declared the amended registration statements effective. The release is not an offer to sell or solicit offers to buy securities.
Bakkt (NYSE: BKKT) reported GAAP revenue of $402.2M for Q3 2025, up 27.1% YoY, and Adjusted EBITDA of $28.7M, up 240.6% YoY. GAAP net loss was $23.2M, driven by a $37.2M non-cash mark-to-market on warrants. The company ended the quarter with $64.4M in cash and restricted cash and no long-term debt. Bakkt completed the sale of its Loyalty business on Oct 1, 2025, collapsed its legacy Up-C structure on Nov 3, 2025, and appointed Richard Galvin to the board. Management expects transformation completion in Q4 2025 and an Investor Day in Q1 2026.
Bakkt (NYSE:BKKT) announced on November 4, 2025 that it has completed a previously disclosed reorganization, eliminating its Up-C structure and converting to a single class of common stock.
The change simplifies the company’s capital structure, aligns economic and governance rights for all shareholders, and is expected to reduce ongoing costs. Management described the reorganization as a milestone that positions Bakkt to focus on execution, scale, and long-term value creation for shareholders.
Bakkt (NYSE:BKKT) announced that David Clifton, an ICE executive and founding board member, stepped down from Bakkt’s Board effective Oct 31, 2025. Clifton previously served as interim CEO in 2020 and had occupied the ICE‑designated board seat created under the IPO for two years plus an additional two years to help build the business.
ICE said its support remains strong, that it continues as a major shareholder aligned with Bakkt’s success, and Bakkt said the move reflects growing board independence and its new leadership as the company completes its transformation ahead of 2026.
Bakkt (NYSE:BKKT) will release third quarter 2025 earnings on Monday, November 10, 2025 before market open. Management will host a conference call at 8:30 AM EST the same day to review results and answer questions.
The call will be webcast live and archived on Bakkt's investor relations website under the News & Events section, with related earnings materials and participant links available online.
Bakkt (NYSE: BKKT) appointed macro strategist Lyn Alden to its Board of Directors effective Oct 20, 2025. Alden is an investor, author, and founder of Lyn Alden Investment Strategy with a background in engineering and investment research, and is noted for work on Bitcoin, stablecoins, and value transfer across regulated networks.
The appointment follows a recent board addition and is presented as part of Bakkt’s governance strengthening and strategic focus on its three core verticals: payments, savings, and trading infrastructure. Management highlighted Alden’s macroeconomic and technology expertise as aiding product focus during Bakkt’s transformation.
Bakkt (NYSE:BKKT) announced a planned reorganization to eliminate its umbrella partnership‑C corporation (Up‑C) structure and transition to a single class of common stock. Under the plan, Bakkt will become a wholly owned subsidiary of a new holding company named Bakkt Holdings, Inc. ("NewCo"), which will replace Bakkt as the listed public company.
Each share of Bakkt Class A common stock will be exchanged 1:1 for NewCo common stock, Class V shares will be replaced, and all shareholders will hold common stock with identical economic and voting rights. The company expects to close the reorganization on or about November 3, 2025.
Bakkt Holdings (NYSE:BKKT) has completed the sale of its Loyalty business to Project Labrador Holdco, LLC, marking a strategic transformation into a pure-play digital asset infrastructure platform. The divestment represents a significant milestone in the company's evolution.
CEO Akshay Naheta emphasized that this move will streamline operations, reduce costs, and strengthen the balance sheet. The company will now focus on four core pillars: Bitcoin, tokenization and digital asset trading, stablecoin payments, and AI-driven finance. Starting Q3 2025, the Loyalty business will be reported as discontinued operations.
Bakkt Holdings (NYSE: BKKT) has announced the appointment of Mike Alfred to its Board of Directors, strengthening its governance and strategic positioning in digital financial infrastructure. Alfred brings significant expertise as co-founder of BrightScope and Digital Assets Data (acquired by Strategic Insight and NYDIG respectively).
Currently serving as Founder and Managing Partner of Alpine Fox LP, a private investment fund focused on Bitcoin and AI-related equities, Alfred also holds board positions at IREN (NASDAQ), Eaglebrook Advisors, Wealthie, and Crestone Group. The appointment aligns with Bakkt's focus on four key trends: digital asset trading, stablecoin payments, AI agents, and Bitcoin.
Bakkt Holdings (NYSE:BKKT) has announced the strategic acquisition of the domain name www.bitcoin.co.jp, choosing it over www.bitcoin.jp. The company strategically selected the .co.jp domain suffix, considering it the premier domain extension in Japan, comparable to the .com extension's significance in other global markets.