Bakkt Shares Surge 18% as Firm Moves to Acquire Stablecoin Infrastructure Provider

Bakkt Holdings’ shares surged sharply on Monday after the digital asset platform announced plans to acquire Distributed Technologies Research, a global stablecoin payments infrastructure company, in an all-equity transaction. The announcement sparked renewed investor interest, sending Bakkt’s stock up by around 18% during the trading session and marking its strongest performance in several months.

The company’s shares, which trade on the New York Stock Exchange under the ticker BKKT, climbed above the $20 mark earlier in the day, their highest level since November. Although the stock eased slightly before the market closed, it still finished at $19.21, well above its opening price. The rally reflects optimism that the acquisition could help reposition Bakkt after a challenging period marked by revenue losses and client departures.

The proposed deal, which remains subject to approval from the U.S. Securities and Exchange Commission as well as Bakkt shareholders, is intended to significantly accelerate the company’s ambitions in programmable money, global settlement systems, and next-generation financial infrastructure. In a statement, Bakkt described the acquisition as a strategic step toward building a unified platform capable of supporting large-scale digital payments and stablecoin use cases worldwide.

As part of the transaction, Akshay Naheta, who has served as Bakkt’s co-chief executive since March 2025, will become the sole chief executive of the combined business. Naheta said the acquisition represents the culmination of a single, coherent strategy, bringing together Bakkt’s regulatory standing and market reach with Distributed Technologies Research’s underlying technology. He added that the move completes Bakkt’s transformation into a global financial infrastructure platform.

The deal will also usher in a rebranding, with Bakkt Holdings set to change its name to Bakkt, Inc. later this month. The company has announced plans to host an Investor Day at the New York Stock Exchange on March 17, signalling a renewed push to engage with shareholders and outline its long-term vision.

Bakkt remains majority-owned by Intercontinental Exchange, the parent company of the New York Stock Exchange, which has long been seen as a key source of institutional credibility for the firm. Notably, the acquisition builds on an earlier partnership between Bakkt and Distributed Technologies Research, after Bakkt integrated DTR’s stablecoin technology into its platform last year.

However, the optimism comes against the backdrop of significant setbacks in 2025. Bakkt previously disclosed that two major clients, Bank of America and Webull, had chosen not to renew their commercial agreements. At the time, Webull alone accounted for roughly three-quarters of Bakkt’s crypto services revenue, according to regulatory filings. The sudden loss of these clients severely impacted revenues and ultimately led to an investor lawsuit, highlighting the risks the company now hopes to overcome with its latest strategic move.