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]

Bakkt Holdings, Inc. said it has agreed to acquire Distributed Technologies Research Ltd. (DTR), marking progress in its strategy to build stablecoin settlement and programmable payments capabilities. The transaction will be executed through an all-equity consideration, with Bakkt issuing shares of its Class A common stock representing 31.5% of the “Bakkt Share Number” defined under a previously disclosed cooperation agreement between the two companies. Based on the current share number, this equates to ...

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]