Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 58,319	$ 39,049
Restricted cash	6,117	24,889
Customer funds	11,061	88,566
Available-for-sale securities	5,094	0
Accounts receivable, net	12,558	7,683
Prepaid insurance	3,960	3,971
Assets of businesses held for sale	20,879	17,519
Other current assets	2,487	2,168
Total current assets	120,475	183,845
Property, equipment and software, net	1,532	2,064
Goodwill	64,658	68,001
Intangible assets	5,550	2,900
Equity method investment	11,472	0
Derivative asset	43,350	0
Non-current assets held for sale	3,576	2,165
Other assets	7,649	10,403
Total assets	258,262	269,378
Current liabilities:
Accounts payable and accrued liabilities	18,009	14,260
Customer funds payable	11,061	88,566
Deferred revenue, current	789	0
Liabilities of businesses held for sale	20,852	33,907
Total current liabilities	53,775	143,845
Warrant liability	60,748	46,923
Noncurrent liabilities held for sale	4,968	0
Other noncurrent liabilities	10,207	15,757
Total liabilities	129,698	206,525
Commitments and contingencies (Note 15)
Additional paid-in capital	934,896	832,693
Accumulated other comprehensive loss	(603)	(841)
Accumulated deficit	(819,902)	(797,960)
Total Bakkt Holdings, Inc. stockholders' equity	114,394	33,894
Noncontrolling interest	14,170	28,959
Total equity	128,564	62,853
Total liabilities and equity	258,262	269,378
Related Party
Current liabilities:
Other current liabilities	0	2,360
Nonrelated Party
Current liabilities:
Other current liabilities	3,064	4,752
Class A Common Stock
Current liabilities:
Common stock, value	2	1
Class V Common Stock
Current liabilities:
Common stock, value	$ 1	$ 1