Digital-asset platform Bakkt Holdings filed a Form S-3 with the U.S. Securities and Exchange Commission, creating a shelf registration that would allow it to sell up to $1 billion in common or preferred stock, debt securities, warrants and stock units. The company said proceeds could be used for general corporate purposes and working capital, and that a portion may be allocated to acquiring Bitcoin or other digital assets. The filing follows Bakkt’s June 2025 investment-policy update, which authorised the firm to hold digital assets on its balance sheet. Bakkt has not yet disclosed a timetable or target size for possible Bitcoin purchases, saying any acquisitions would depend on market conditions, capital-market receptivity and business performance. Bakkt, majority-owned by Intercontinental Exchange, joins a growing list of publicly traded companies exploring cryptocurrency as a treasury asset. A shelf registration gives the company flexibility to tap capital markets quickly without seeking separate regulatory approval for each issuance.