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BAKKT HOLDINGS INC (NYSE: BKKT) is a publicly traded company founded in 2018 and headquartered in Alpharetta, Georgia, with an additional office in New York City. Originally formed through a partnership led by Intercontinental Exchange (ICE), Bakkt provides institutional-grade custody, trading, and fiat-to-crypto onramp services under a regulated framework in the U.S. and select international markets.
Corporate Structure and Leadership
Bakkt employs between 201 and 500 people, spanning technology, finance, compliance, and customer support functions. The company operates through multiple subsidiaries, including Bakkt Crypto Solutions, LLC for retail trading and separate entities for institutional clients. Key executives and board members include:
- Michelle J. Goldberg, Board Director and venture investor
- Marcos Poggio, Chief Financial Officer
- Colin H., Chief Information Security Officer
- Jill Simeone, Independent Board Member and professor
Crypto Infrastructure by Markus Spiske
Recent Developments and News
On July 28, 2025, Bakkt announced the sale of its loyalty points business for $11 million to enhance its focus on digital asset infrastructure. On March 20, 2025, Akshay Naheta was appointed co-chief executive officer. In April 2023, Bakkt completed the acquisition of Apex Crypto, a Chicago-based integrated trading platform. On October 1, 2025, the company filed a Form 8-K (Items 1.01, 2.01, 7.01, 9.01) with the SEC, detailing material corporate events and governance updates.
Financial and Strategic Analysis
As of October 2, 2025, Bakkt’s share price closed at $45.30, reflecting a 32.65% increase on the day, with a trading volume of 3,643,703 shares. The following table summarizes key financial metrics (trailing twelve months):
| Metric | Value |
|---|---|
| Market Capitalization | $286.02 million |
| Revenue | $3.78 billion |
| Net Income | –$29.1 million |
| Profit Margin | –0.77% |
| Price/Sales Ratio | 0.03 |
| Price/Book Ratio | 8.10 |
Bakkt’s strategy focuses on monetizing transaction fees through custody and trading services while managing regulatory and market volatility risks. The divestiture of non-core assets and leadership changes align with its commitment to scalable crypto solutions for institutional and retail clients.
Market Position and Industry Context
Bakkt operates within the digital asset ecosystem alongside competitors such as Coinbase and traditional financial institutions entering the crypto market. Backed by ICE’s infrastructure and partnerships with banking and fintech platforms, Bakkt aims to differentiate itself through regulatory compliance and a comprehensive suite of API-driven services. Continued product development and strategic alliances will be essential for its competitive position in global markets.
tl;dr
On October 1, 2025, Bakkt filed an 8-K disclosing corporate and governance updates. On October 2, its stock increased 32.65% to close at $45.30 on a volume of 3.64 million shares. Following the July 28, 2025 sale of its loyalty business for $11 million and the March 20, 2025 appointment of co-CEO Akshay Naheta, Bakkt is refocusing on custody and trading services. With a market cap of $286 million and trailing-twelve-month revenue of $3.78 billion (net loss of $29.1 million), the company’s outlook is focused on expanding regulated crypto infrastructure under its new leadership.
