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Bakkt, Inc.
TypePublic subsidiary
NYSE: BKKT
IndustryFintech
Founded
  • July 31, 2018; 8 years ago (2018-07-31) (initially launched as a subsidiary of Intercontinental Exchange)
  • October 18, 2021; 4 years ago (2021-10-18) (publicly traded company)
HeadquartersAtlanta, Georgia, U.S.
Key people
Akshay Naheta (CEO)
Karen Alexander (CFO)
RevenueDecrease US$2.335 billion (2025)
Negative increase US$−147 million (2025)
Negative increase US$−132 million (2025)
Total assetsDecrease US$162 million (2025)
Total equityIncrease US$112 million (2025)
Number of employees
150 (2026)
Websitewww.bakkt.com Edit this on Wikidata
Footnotes
[1][2]

Bakkt Holdings, Inc., provides a software as a service (SaaS) and API platform for owning and trading cryptocurrency and facilitates fiat-to-stablecoin conversion.[1] The company is organized in Delaware, with principal executive offices in New York City.

Bakkt was founded by Intercontinental Exchange (ICE), which also owns the New York Stock Exchange and owned around 20% of the company as of June 2026.[3]

History

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2018–2020: Under ICE ownership

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In August 2018, Intercontinental Exchange formed Bakkt in partnership with Boston Consulting Group (BCG), Microsoft, Starbucks, and others to create a software platform to manage digital assets.[4] Its first use cases was for trading and conversion of Bitcoin (BTC) versus fiat currencies. Kelly Loeffler served as Bakkt's CEO until her appointment to the United States Senate.[5]

In January 2019, Bakkt acquired certain assets of Rosenthal Collins Group to advance its consumer payments initiatives.[6]

In April 2019, Bakkt acquired Digital Asset Custody Company (DACC).[7]

In September 2019, after regulatory delays, Intercontinental Exchange began trading of bitcoin futures.[8][9]

In February 2020, Intercontinental Exchange acquired Bridge2 Solutions, a loyalty rewards provider, which was then contributed to Bakkt.[10]

2021–present: Public company

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In October 2021, Bakkt completed a merger with VPC Impact Acquisition Holdings, a special-purpose acquisition company sponsored by Victory Park Capital and was listed on the New York Stock Exchange.[11][12]

In April 2023, Bakkt acquired Chicago-based integrated crypto trading platform, Apex Crypto.[13]

In March 2025, Akshay Naheta was appointed as the co-chief executive officer and the company also entered into a commercial agreement with Distributed Technologies Research (DTR).[14] Naheta was named the sole CEO effective September 2025.[15]

In July 2025, the company announced it will sell its loyalty points business for $11 million.[16] The company completed the sale in October 2025.[17]

In August 2025, the acquired approximately 30% of the outstanding shares of MarushoHotta, which was renamed Bitcoin Japan.[18]

In November 2025, the company simplified the capital structure and eliminated its umbrella partnership-C corporation "Up-C" structure and transitioned to a single class of stock.[19]

In January 2026, the company changed its corporate name from Bakkt Holdings, Inc. to Bakkt, Inc.[20]

In April 2026, the company acquired Distributed Technologies Research (DTR).[21]

References

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  1. 1 2 "Bakkt Holdings, Inc. 2025 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. March 19, 2026.
  2. ↑ "BAKKT HOLDINGS, INC. SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934". U.S. Securities and Exchange Commission. April 30, 2026.
  3. ↑ "ICE adjusts Bakkt (NYSE: BKKT) stake to 19.8% after dilution". Stock Titan.
  4. ↑ Tully, Shawn (August 3, 2018). "The NYSE's Owner Wants to Bring Bitcoin to Your 401(k). Are Crypto Credit Cards Next?: sources". Fortune.
  5. ↑ "The NYSE's Owner Wants to Bring Bitcoin to Your 401(k). Are Crypto Credit Cards Next?". Fortune.
  6. ↑ TULLY, SHAWN (January 14, 2019). "Bakkt's New Acquisition Will Speed Its Plan to Streamline Consumer Payments". Fortune.
  7. ↑ "Bakkt acquires Digital Asset Custody Company, applies for NY trust company status". Finextra Research. April 30, 2019.
  8. ↑ Osipovich, Alexander (September 22, 2019). "NYSE Owner Launches Long-Awaited Bitcoin Futures". The Wall Street Journal.
  9. ↑ Osipovich, Alexander; Rubin, Gabriel T. (March 21, 2019). "Bitcoin Futures Launch Hits Regulatory Snag". The Wall Street Journal.
  10. ↑ TULLY, SHAWN (February 5, 2020). "Bakkt aims to turn your rewards points into a wallet you can spend anywhere". Fortune.
  11. ↑ Linnane, Ciara (January 11, 2021). "Bakkt to go public via merger with SPAC VPC Impact Acquisition in deal with $2.1 billion enterprise value". MarketWatch.
  12. ↑ "Bakkt Closes Business Combination with VPC Impact Acquisition Holdings and Will Begin Trading on the New York Stock Exchange on October 18, 2021" (Press release). Business Wire. October 15, 2021.
  13. ↑ SCHWARTZ, LEO (April 3, 2023). "Digital assets platform Bakkt completes $155M deal for Apex Crypto". Fortune.
  14. ↑ Antony, Anto (March 20, 2025). "Ex-SoftBank Rainmaker Naheta Picked to Head Bakkt's Turnaround Efforts". Bloomberg News.
  15. ↑ "Bakkt Announces CEO Transition Amid Shift to 'Pure-Play Crypto Infrastructure Company'". Pymts. August 11, 2025.
  16. ↑ "Bakkt Announces Preliminary Second Quarter 2025 Financial Results and Definitive Agreement to Sell Loyalty Business" (Press release). Business Wire. July 28, 2025.
  17. ↑ "Bakkt Completes the Sale of Loyalty Business, Accelerating Transformation into a Pure-Play Digital Asset Infrastructure Platform". Nasdaq.
  18. ↑ "Bakkt Holdings to Acquire Shares of Japanese Company ..." (Press release). Business Wire. August 6, 2025.
  19. ↑ "Bakkt Completes Capital Structure Simplification and Single-Class Stock Transition" (Press release). GlobeNewswire. November 4, 2025.
  20. ↑ "Bakkt Holdings, Inc. will Change its Name to Bakkt, Inc". S&P Global. January 21, 2026.
  21. ↑ "Bakkt Completes Acquisition of Distributed Technologies" (Press release). GlobeNewswire. April 30, 2026.
[edit]
  • Official website Edit this at Wikidata
  • Business data for Bakkt Holdings, Inc.:
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