BLOK's January Winners Point to the Future of ComputingETF Trends is now VettaFi. Read More --Pure- play miners remain tightly tethered to the price of bitcoin. Still, a growing subset of mining companies is beginning to trade on a different narrative: high-performance computing and AI infrastructure. That shift is showing up clearly in [the Amplify Blockchain Technology ETF (BLOK)], where several top holdings are evolving from simple crypto plays into broader computing platforms.As of January 30, the follo ...

Market Overview - U.S. stocks experienced a decline, with the Nasdaq Composite falling 1.5% amid President Trump's tariff threats related to the Greenland dispute [1] - The Dow decreased by 1.17% to 48,780.92, while the S&P 500 dropped 1.32% to 6,848.33 [1] - European shares also fell, with the eurozone's STOXX 600 down 0.92% and major indices in Spain, London, Germany, and France experiencing declines [8] Company Earnings - D.R. Horton, Inc. reported net income of $594.8 million, or $2.03 per diluted share, for Q1 of fiscal 2026, down from $844.9 million, or $2.61 per diluted share, in the same quarter last year [3] - Revenue for D.R. Horton was $6.887 billion, a decrease from $7.613 billion year-over-year, but exceeded the consensus estimate of $6.603 billion [4] Stock Movements - Rapt Therapeutics Inc shares surged 64% to $57.52 following GSK's announcement of an acquisition [9] - Corvus Pharmaceuticals Inc shares increased by 107% to $16.66 after positive clinical trial results [9] - Immunitybio Inc shares rose 23% to $6.78 after a meeting with the FDA regarding its application for a cancer treatment [9] - Bakkt Holdings Inc shares fell 19% to $17.42 after announcing a $300 million ATM equity program [9] - NovaBay Pharmaceuticals Inc shares dropped 45% to $8.07 following a stock offering announcement [9] - Synlogic Inc shares decreased by 38% to $0.70 after receiving a Nasdaq delisting notification [9] Commodities - Oil prices increased by 2% to $60.62, while gold rose by 3.6% to $4,759.30 [7] - Silver saw a significant increase of 7.1% to $94.845, whereas copper fell by 0.8% to $5.7845 [7]

Core Viewpoint - Bakkt Holdings, Inc. has established an at-the-market (ATM) equity program allowing it to sell shares for up to $300 million to enhance financial flexibility and capitalize on growth opportunities [1][2]. Group 1: ATM Equity Program - The ATM program provides Bakkt with the ability to offer and sell shares of its common stock at its discretion for aggregate gross proceeds of up to $300 million [1]. - As of the announcement date, no shares have been sold under the ATM program [1]. Group 2: Strategic Intent - The program is intended to enhance Bakkt's financial flexibility and support its long-term growth strategy, including expanding the Bakkt Agent initiative and scaling Zaira's stablecoin payments platform [2]. - Bakkt plans to increase investment in its global initiatives, particularly in Japan and India, and enter additional high-potential markets to build on its global momentum [2]. Group 3: Company Overview - Founded in 2018, Bakkt is focused on building next-generation financial infrastructure, enabling institutional participation in the digital asset economy, including Bitcoin, tokenization, stablecoin payments, and AI-driven finance [4]. - The company is positioned at the center of a transformation in how money moves and how markets operate, emphasizing scale, security, and regulatory compliance [4].

Market Overview - U.S. stock futures are lower, with Dow futures dropping approximately 700 points [1] Company-Specific Developments - Valneva SE has withdrawn its IXCHIQ Chikungunya vaccine BLA and IND in the U.S. following an FDA suspension and a review of new serious adverse events, leading to a 7.7% decline in shares to $9.29 in pre-market trading [1] - Rezolve AI PLC shares fell 15% to $3.92 in pre-market trading [2] - POET Technologies Inc experienced an 11.2% decline to $7.37 in pre-market trading [2] - Forward Industries Inc shares decreased by 10.5% to $7.70 after a previous gain of 4% on Friday [2] - Babcock & Wilcox Enterprises Inc shares dipped 9.9% to $7.59 in pre-market trading [2] - Bakkt Holdings Inc fell 9.5% to $19.38 after a 10% increase on Friday [2] - Applovin Corp shares decreased by 9.5% to $515.03 after a 6% decline on Friday [2] - ALT5 Sigma Corp shares fell 8.9% to $2.36 after gaining 7% on Friday, despite regaining Nasdaq compliance [2] - HIVE Digital Technologies Ltd shares dropped 7.7% to $3.20 in pre-market trading [2] - Aeva Technologies Inc shares declined 6.8% to $18.01 in pre-market trading [2] - Bitdeer Technologies Group fell 6.8% to $14.75 in pre-market trading [2] - Terrestrial Energy Inc shares decreased by 6.3% to $10.95 in pre-market trading [2] - Tesla Inc shares fell 2.7% to $425.75, with CEO Elon Musk confirming that vehicles equipped with the AI4 (HW4) chip will achieve unsupervised autonomous driving without upgrades [2] - NVIDIA Corp shares declined 2.4% to $181.77 in pre-market trading [2]

Financial Projections - Bakkt's estimated gross digital asset revenues for Q4 2025 are projected to be between $298 million and $300 million[8] - Total digital asset costs and execution, clearing, and brokerage fees for Q4 2025 are estimated to be in the range of $297 million to $299 million[8] - Estimated available cash, cash equivalents, and restricted cash at December 31, 2025, are projected to be between $26 million and $28 million[8] - Net cash used in operating activities for Q4 2025 is estimated to be between $19 million and $21 million, including a customer deposit return of approximately $6.3 million[8] - Net cash used in investing activities for Q4 2025 is estimated to be between $12 million and $14 million, with significant cash outflows related to the sale of the Loyalty Business[8] Corporate Events - Bakkt plans to host an Investor Day on March 17, 2026, to discuss its financial results in detail[8] Legal Matters - The company has filed a complaint against the purchaser of its Loyalty Business for breach of contract regarding the return of approximately $5 million[10] Investments and Acquisitions - Bakkt has invested approximately $10 million in warrants for Transchem Ltd., with potential plans for further acquisitions in India[11] - The acquisition of Distributed Research Technologies is expected to enhance Bakkt's infrastructure and growth strategy[15] Risks and Compliance - Bakkt's future capital requirements and cash sources are subject to various risks, including regulatory changes and market volatility[15] - The company has made forward-looking statements based on information available as of the report date, with no obligation to update these statements[17] - The report is signed by Marc D'Annunzio, General Counsel and Secretary, indicating official acknowledgment of the contents[20] - The filing complies with the Securities Exchange Act of 1934, ensuring regulatory adherence[19]

Core Insights - Bakkt Holdings has agreed to acquire Distributed Technologies Research (DTR) in an all-stock transaction to enhance its programmable payments strategy [1] Group 1: Acquisition Details - The acquisition involves Bakkt issuing Class A common shares equal to 31.5% of the "Bakkt Share Number," which translates to approximately 9.1 million shares for DTR's existing shareholders [2] - The final number of shares to be issued will be determined based on a methodology in the cooperation agreement and may change before the deal closes [3] - The acquisition aims to integrate DTR's stablecoin settlement infrastructure into Bakkt, accelerating the rollout of stablecoin services and reducing reliance on external providers [4] Group 2: Strategic Implications - The CEO of Bakkt, Akshay Naheta, emphasized that the acquisition will transform the company into a unified global financial infrastructure platform, enhancing capabilities for merchants, financial institutions, and end users [3][4] - The deal has been approved by a special committee of Bakkt's board and is subject to regulatory clearances and shareholder approval, with Intercontinental Exchange (ICE) agreeing to vote in favor of the transaction [5] Group 3: Corporate Changes - Bakkt will change its corporate name to "Bakkt, Inc." effective from 22 January 2026, while continuing to trade on the New York Stock Exchange under the ticker symbol "BKKT" [5][6] - An investor day is planned for 17 March 2026 at the New York Stock Exchange, with further details to be provided later [6]

Core Viewpoint - Bakkt is expanding into the stablecoin payments market by acquiring Distributed Technologies Research (DTR), aiming to enhance its stablecoin settlement and programmable payments capabilities [1]. Group 1: Acquisition Details - Bakkt will issue approximately 9.1 million shares of its Class A common stock, representing about 31.5% of its current share count, to complete the acquisition [2]. - The final number of shares may change before closing, which is subject to shareholder and regulatory approvals [2]. - DTR's CEO, Akshay Naheta, will lead Bakkt post-merger, having previously led investment efforts at SoftBank [3]. Group 2: Market Reaction and Valuation - Following the acquisition announcement, Bakkt's shares increased by 17% to over $19, reaching a two-month high, with the deal valued at around $168 million at current prices [4]. Group 3: Strategic Implications - DTR's platform facilitates programmable digital payments, including cross-border transactions with stablecoins, which are becoming increasingly significant in the digital asset sector [5]. - By acquiring DTR, Bakkt aims to reduce reliance on third-party vendors and accelerate the launch of new services, including neobanking offerings planned for later this year [6]. - The acquisition is expected to consolidate Bakkt's stablecoin settlement infrastructure and support its neobanking strategy with various distribution partners in the near future [7].

Core Viewpoint - Halper Sadeh LLC is investigating the fairness of the merger between Bakkt Holdings, Inc. and Distributed Technologies Research Ltd. for Bakkt shareholders [1] Group 1 - The investigation focuses on whether Bakkt and its board acted in the best interest of shareholders during the merger process [1]

Core Viewpoint - Bakkt Holdings, Inc. has agreed to acquire Distributed Technologies Research Ltd. (DTR) to enhance its stablecoin settlement and programmable payments capabilities [1] Group 1: Acquisition Details - The acquisition will be executed through an all-equity consideration, with Bakkt issuing shares representing 31.5% of the "Bakkt Share Number" as defined in a prior cooperation agreement [1] - Approximately 9.1 million Class A shares will be issued to DTR shareholders, including DTR founder and Bakkt CEO, Akshay Naheta [2] Group 2: Strategic Implications - The acquisition is expected to accelerate Bakkt's time-to-market for stablecoin settlement by bringing core infrastructure in-house, reducing reliance on third-party providers [3] - Owning DTR's technology will create new revenue opportunities across payments and banking use cases [3] - The deal supports Bakkt's ambition to position itself as a programmable money and next-generation financial infrastructure platform [4] Group 3: Governance and Approvals - The transaction was reviewed and approved by an independent special committee of Bakkt's board [5] - Completion is subject to customary closing conditions, including regulatory approvals and Bakkt shareholder consent [5] - Intercontinental Exchange, Inc., which owns around 31% of Bakkt's Class A common stock, has agreed to vote its shares in favor of the transaction [5] Group 4: Corporate Changes - Bakkt will change its corporate name to "Bakkt, Inc." effective January 22, continuing to trade on the New York Stock Exchange under the ticker BKKT [6] Group 5: Previous Acquisitions - In August, Bakkt acquired approximately 30% of Tokyo-listed textile company MarushoHotta for $115 million, planning to rebrand it as "Bitcoin.jp" [7] - This acquisition aims to transform the 120-year-old Japanese manufacturer into a Bitcoin-focused investment vehicle under new CEO Phillip Lord [7]

Core Insights - Bakkt Holdings, Inc. has announced the acquisition of Distributed Technologies Research Ltd. (DTR), enhancing its global stablecoin settlement and programmable payments strategy [1][2] - The company will operate under the name "Bakkt, Inc." starting January 22, 2026, and plans to host an Investor Day on March 17, 2026 [1][4] Acquisition Details - Bakkt will issue shares of its Class A common stock representing 31.5% of the "Bakkt Share Number" as consideration for DTR, amounting to approximately 9,128,682 shares [2] - The final number of shares will be determined according to the Cooperation Agreement and may change before the transaction closes [2] - The acquisition is expected to accelerate Bakkt's time-to-market for stablecoin settlement and reduce third-party dependency [2] Governance and Approval - The transaction is subject to customary closing conditions, including regulatory approvals and stockholder approval [3] - An independent special committee of Bakkt's Board of Directors evaluated and approved the transaction to ensure robust governance [3] Strategic Implications - The acquisition is seen as a strategic fit that will consolidate Bakkt's stablecoin settlement infrastructure and support its neobanking strategy [4] - Bakkt aims to create a unified global financial infrastructure platform by integrating DTR's technology with its own market presence and regulatory framework [4] - The transaction is expected to unlock new capabilities and efficiencies for merchants, financial institutions, and end users [4]