NYSE files Form 25 to remove Bakkt common and warrants from listing

Rhea-AI Filing Summary

Bakkt Holdings, Inc. (BKKT) is being removed from listing and/or registration on the New York Stock Exchange under Section 12(b), as reflected in a filed Form 25.

The action covers Class A Common Stock and warrants to purchase Class A Common Stock. The warrants are described as entitling the holder to purchase 1/25th of a share of Class A common stock, with an exercise price of $287.50 for one share of Class A common stock. The filing cites 17 CFR 240.12d2-2(b) and 12d2-2(c), noting compliance with exchange rules and the provision governing voluntary withdrawal.

Positive

• None.

Negative

• NYSE Form 25 delisting: Class A common stock and warrants removed from NYSE listing and/or registration under Section 12(b).

Insights

Equity Markets & Listings Analyst

NYSE filed Form 25 to delist BKKT common and warrants.

Bakkt is subject to removal from NYSE listing and/or registration under Section 12(b), per a Form 25. The filing lists both Class A common stock and the company’s warrants. This is a formal exchange process and indicates the securities will cease to be listed on the NYSE following effectiveness.

The document references 17 CFR 240.12d2-2(b) and 12d2-2(c), signaling that exchange procedures and the voluntary withdrawal framework are addressed. No reasons, remedies, or alternative trading venues are stated in the excerpt.

The warrants are described as exercisable for 1/25th of a share with an exercise price of $287.50 for one share. Actual trading and liquidity outcomes depend on subsequent disclosures; the excerpt provides no timing beyond the Form 25 notice.

UNITED STATES

OMB APPROVAL

OMB Number:			3235-0080
Expires:	March 31, 2018
Estimated average burden
hours per response:			1.7

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

001-39544

Issuer:	Bakkt Holdings, Inc.
Exchange:	NEW YORK STOCK EXCHANGE LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	ONE LIBERTY PLAZA 1 LIBERTY ST
	New York	NEW YORK	10006
Telephone number:					678-534-5849

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

Class A Common Stock; Warrants to purchase Class A Common Stock, each Warrant entitles a holder to purchase 1/25th of a share of Class A common stock at an exercise price of $287.50 for one share of Class A Common Stock

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, NEW YORK STOCK EXCHANGE LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2025-11-04	By	Anthony Sozzi		Analyst, Market Watch
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did the NYSE file regarding Bakkt (BKKT)?

A Form 25 to remove the company’s securities from listing and/or registration under Section 12(b).

Which Bakkt securities are affected by the Form 25?

Class A Common Stock and warrants to purchase Class A Common Stock are listed in the notice.

What are the warrant terms mentioned for BKKT?

Each warrant entitles the holder to purchase 1/25th of a share of Class A common stock, with an exercise price of $287.50 for one share.

Which exchange is involved in Bakkt’s delisting?

The New York Stock Exchange (NYSE) filed the Form 25.

What rules are cited in the Form 25 for BKKT?

The notice references 17 CFR 240.12d2-2(b) and 17 CFR 240.12d2-2(c) regarding removal and voluntary withdrawal.

Does the filing state reasons for the delisting of BKKT?

The excerpt lists the action and rules cited but does not state reasons.