PANews reported on June 27 that Bakkt Holdings submitted a $1 billion shelf offering application to the U.S. Securities and Exchange Commission (SEC). The proceeds from this fundraising are expected to be used for working capital and general corporate purposes. Part of the funds may also be allocated to Bitcoin or other digital assets based on the updated investment policy.

Note: Shelf issuance refers to a mechanism in which the issuer registers once and issues securities multiple times based on the registration system for securities issuance.