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Revenue from Contracts with Customers
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
Disaggregation of Revenue
The Company disaggregates Crypto Services revenue by service type as follows (in thousands):
Service TypeThree Months Ended
September 30, 2025		Three Months Ended
September 30, 2024		Nine Months Ended
September 30, 2025		Nine Months Ended
September 30, 2024
Transaction revenue$402,196 $316,299 $2,036,025 $1,654,748 
Service revenue15 34 45 66 
Crypto services revenue402,211 316,333 2,036,070 1,654,814 
Bakkt recognized revenue from foreign jurisdictions of $54.9 million and $121.9 million for the three and nine months ended September 30, 2025, respectively, and $9.4 million and $32.3 million for the three and nine months ended September 30, 2024, respectively.
The Company has one reportable segment to which its revenues relates.
Deferred Revenue
Contract liabilities consist of deferred revenue for amounts invoiced prior to the Company meeting the criteria for revenue recognition. Bakkt invoices customers for service fees at the beginning of service performance, and such fees are recognized as revenue over time as the Company satisfies performance obligations. Contract liabilities are classified as “Deferred revenue, current” and “Deferred revenue, noncurrent” in the consolidated balance sheets. The activity in deferred revenue for the nine months ended September 30, 2025 and September 30, 2024, respectively, was as follows (in thousands):
Nine Months Ended
September 30, 2025		Nine Months Ended
September 30, 2024
Beginning of the period contract liability$— 

$— 
Revenue recognized from contract liabilities included in the beginning balance— 

— 
Increases due to cash received, net of amounts recognized in revenue during the period789 

— 
End of the period contract liability$789 

$— 
Contract Costs
For the three and nine months ended September 30, 2025 and September 30, 2024, we incurred no incremental costs to obtain and/or fulfill contracts with customers.