Digital asset platform Bakkt Holdings has notified the U.S. SEC of its plans to sell up to $1 billion in securities to provide fresh capital for a possible expansion of its corporate treasury to include Bitcoin.

Bakkt’s S-3 filing on Thursday creates a $1 billion pool of potential securities, including common stock, preferred stock, debt securities, warrants, and bundled stock units, which could be tapped whenever market conditions become favorable.

Backed by Intercontinental Exchange, the platform’s plans come as a growing number of public corporations begin to hold the world’s largest crypto as an alternative asset on their balance sheets.

Bakkt intends to “explore” these “financing alternatives” for “acquiring Bitcoin or other digital assets,” a summary of the filing’s prospectus reads.

The platform did not immediately respond to Decrypt’s request for comment on its global strategy, nor whether this would mirror the ongoing acquisitions from firms like Michael Saylor’s Strategy and Metaplanet.

The registration functions like a pre-approved credit line, allowing companies to quickly raise funds when Bitcoin prices d

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Author: Vince Dioquino