Bakkt submits $1 billion shelf issuance application to SEC, may use proceeds to purchase cryptocurrencies such as Bitcoin Bakkt Holdings has submitted a $1 billion shelf issuance application to the US Securities and Exchange Commission (SEC), and the proceeds from this fundraising are expected to be used for working capital and general corporate purposes. Some of the funds may also be allocated to Bitcoin or other digital assets according to updated investment policies. Note: Shelf issuance refers to a mechanism in which the issuer registers once and issues multiple times on the basis of a registration system for securities issuance.