# EDGAR Filing Document

**Accession Number:** 0001820302
**File Stem:** 0000947871-26-000491
**Filing Date:** 2026-5
**Character Count:** 15213
**Document Hash:** 5ad01d46fd6dbfefa984bd2b3c70416d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000947871-26-000491.hdr.sgml**: 20260504

**ACCESSION NUMBER**: 0000947871-26-000491

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260504

**DATE AS OF CHANGE**: 20260504

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bakkt, Inc.
- **CENTRAL INDEX KEY:** 0001820302
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 412324812
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91712
- **FILM NUMBER:** 26939740

**BUSINESS ADDRESS:**
- **STREET 1:** ONE LIBERTY PLAZA
- **STREET 2:** 1 LIBERTY ST FL 3 STE 305-306
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10006
- **BUSINESS PHONE:** 332-203-3017

**MAIL ADDRESS:**
- **STREET 1:** ONE LIBERTY PLAZA
- **STREET 2:** 1 LIBERTY ST FL 3 STE 305-306
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10006

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Bakkt Holdings, Inc.
- **DATE OF NAME CHANGE:** 20211015

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VPC Impact Acquisition Holdings
- **DATE OF NAME CHANGE:** 20200805
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Intercontinental Exchange, Inc.
- **CENTRAL INDEX KEY:** 0001571949
- **STANDARD INDUSTRIAL CLASSIFICATION:** SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES [6200]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 5660 NEW NORTHSIDE DRIVE,
- **STREET 2:** THIRD FLOOR
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30328
- **BUSINESS PHONE:** 770-857-4700

**MAIL ADDRESS:**
- **STREET 1:** 5660 NEW NORTHSIDE DRIVE,
- **STREET 2:** THIRD FLOOR
- **CITY:** ATLANTA
- **STATE:** GA
- **ZIP:** 30328

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IntercontinentalExchange Group, Inc.
- **DATE OF NAME CHANGE:** 20130313

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Intercontinental Exchange Group, Inc.
- **DATE OF NAME CHANGE:** 20130312

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 13)**

**Bakkt, Inc.**

*(Name of Issuer)*

**Class A Common Stock**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**Andrew J. Surdykowski**<br>Intercontinental Exchange, Inc.<br>5660 New Northside Drive<br>Atlanta GA 30328<br>770-857-4700

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**04/30/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**INTERCONTINENTAL EXCHANGE, INC.** | Name of reporting person<br>**INTERCONTINENTAL EXCHANGE, INC.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**8380362.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**8380362.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**8380362.00** | Aggregate amount beneficially owned by each reporting person<br>**8380362.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | |
| 13 | Percent of class represented by amount in Row (11)<br>**19.8%** | Percent of class represented by amount in Row (11)<br>**19.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** The amount listed in Rows 8, 10 and 11 includes 461,360 shares (the "Replacement Warrant Shares") of Class A common stock, par value $0.0001 per share ("New Class A Common Stock"), of Bakkt, Inc. (the "Issuer"), underlying the Replacement Warrants (as defined in Item 6 of the Amended Schedule 13D). The Reporting Persons will not have the power to vote the Replacement Warrant Shares unless, and to the extent, Intercontinental Exchange Holdings, Inc. ("ICEH"), a wholly owned subsidiary of Intercontinental Exchange, Inc. ("ICE"), exercises its right to acquire Replacement Warrant Shares in accordance with the terms of the Replacement Warrants.

The percentage calculated in Row 13 is based on a total of 41,878,871 shares of New Class A Common Stock outstanding, comprised of (i) 30,562,096 shares outstanding as of March 11, 2026, as reported in the Issuer's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 19, 2026, and (ii) 11,316,775 shares issued on April 30, 2026, as reported in the Issuer's Current Report on Form 8-K filed with the SEC on April 30, 2026.

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Intercontinental Exchange Holdings, Inc.** | Name of reporting person<br>**Intercontinental Exchange Holdings, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**8380362.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**8380362.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**8380362.00** | Aggregate amount beneficially owned by each reporting person<br>**8380362.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[x] | |
| 13 | Percent of class represented by amount in Row (11)<br>**19.8%** | Percent of class represented by amount in Row (11)<br>**19.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** The amount listed in Rows 8, 10 and 11 includes 461,360 Replacement Warrant Shares underlying the Replacement Warrants.

The percentage calculated in Row 13 is based on a total of 41,878,871 shares of New Class A Common Stock outstanding, comprised of (i) 30,562,096 shares outstanding as of March 11, 2026, as reported in the Issuer's Annual Report on Form 10-K filed with the SEC on March 19, 2026, and (ii) 11,316,775 shares issued on April 30, 2026, as reported in the Issuer's Current Report on Form 8-K filed with the SEC on April 30, 2026.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class A Common Stock

**(b) Name of Issuer:**
Bakkt, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
One Liberty Plaza, One Liberty St. Ste. 305-306, New York, NY, 10006

This Amendment No. 13 (this "Amendment") is being jointly filed on behalf of: (a) Intercontinental Exchange, Inc., a Delaware corporation ("ICE"), and (b) Intercontinental Exchange Holdings, Inc., a Delaware corporation ("ICEH", and together with ICE, the "Reporting Persons" and each a "Reporting Person"), and amends the Statement on Schedule 13D filed by the Reporting Persons on October 21, 2021 ("Initial Schedule 13D"), as previously amended by (i) Amendment No. 1 to the Initial Schedule 13D filed by the Reporting Persons on May 5, 2022 ("Amendment No. 1"), (ii) Amendment No. 2 to the Initial Schedule 13D filed by the Reporting Persons on April 28, 2023 ("Amendment No. 2"), (iii) Amendment No. 3 to the Initial Schedule 13D filed by the Reporting Persons on March 4, 2024 ("Amendment No. 3"), (iv) Amendment No. 4 to the Initial Schedule 13D filed by the Reporting Persons on April 29, 2024 ("Amendment No. 4"), (v) Amendment No. 5 to the Initial Schedule 13D filed by the Reporting Persons on July 9, 2024 ("Amendment No. 5"), (vi) Amendment No. 6 to the Initial Schedule 13D filed by the Reporting Persons on July 1 and 2, 2025 ("Amendment No. 6"), (vii) Amendment No. 7 to the Initial Schedule 13D filed by the Reporting Persons on July 17, 2025 ("Amendment No. 7"), (viii) Amendment No. 8 to the Initial Schedule 13D filed by the Reporting Persons on July 30, 2025, (ix) Amendment No. 9 to the Initial Schedule 13D filed by the Reporting Persons on October 20, 2025 ("Amendment No. 9"), (x) Amendment No. 10 to the Initial Schedule 13D filed by the Reporting Persons on November 5, 2025 ("Amendment No. 10"), (xi) Amendment No. 11 to the Initial Schedule 13D filed by the Reporting Persons on January 13, 2026 ("Amendment No. 11") and (xii) Amendment No. 12 to the Initial Schedule 13D filed by the Reporting Persons on March 4, 2026 ("Amendment No. 12", and the Initial Schedule 13D as so amended, the "Amended Schedule 13D"), which relates to the shares of Class A common stock, par value $0.0001 per share ("New Class A Common Stock"), of Bakkt, Inc., a Delaware corporation (the "Issuer"), as successor to Bakkt Intermediate Holdings, Inc. (formerly known as Bakkt Holdings, Inc.), a Delaware Corporation (the "Predecessor Issuer").

Information given in response to each item of this Amendment shall be deemed incorporated by reference in all other items, as applicable. Capitalized terms used and not otherwise defined in this Amendment have the same meanings ascribed to them in the Amended Schedule 13D.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The percentage of beneficial ownership in this Amendment is based on: (i) with respect to the total amount of securities issued and outstanding, an aggregate of 41,878,871 shares of New Class A Common Stock outstanding, comprised of (a) 30,562,096 shares outstanding as of March 11, 2026, as reported in the Issuer's Annual Report on Form 10-K filed with the SEC on March 19, 2026, and (b) 11,316,775 shares issued on April 30, 2026, as reported in the Issuer's Current Report on Form 8-K filed with the SEC on April 30, 2026, as adjusted pursuant to Rule 13d-3(d)(1)(i) under the Exchange Act to include the 461,360 shares of New Class A Common Stock (the "Replacement Warrant Shares") underlying the Replacement Warrants (as defined in Item 6 of the Amended Schedule 13D), and (ii) with respect to the securities beneficially owned by the Reporting Persons, 7,919,002 shares of New Class A Common Stock and 461,360 Replacement Warrant Shares beneficially owned by the Reporting Persons as of the date hereof.

The aggregate number and percentage of shares of New Class A Common Stock beneficially owned by the Reporting Persons, the number of shares as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition, are set forth on rows 7 through 11 and row 13 of the cover pages of this Amendment and are incorporated herein by reference.

The Replacement Warrant Shares will not have voting power unless, and to the extent, ICEH exercises its right to acquire Replacement Warrant Shares in accordance with the terms of the Replacement Warrants and such shares become issued and outstanding.

To the best knowledge of the Reporting Persons, the following persons beneficially own or may be deemed to beneficially own the shares of New Class A Common Stock set forth below:
o       Hon. Sharon Y. Bowen, Director, ICE, beneficially owns 21,044 shares of New Class A Common Stock.
o       Thomas E. Noonan, Director, ICE, beneficially owns 529 shares of New Class A Common Stock.
o       Jeffrey C. Sprecher, Director (Chairman) and Chief Executive Officer, ICE, may be deemed to beneficially own 146,366 shares of New Class A Common Stock, which shares are beneficially owned by his spouse. Mr. Sprecher disclaims beneficial ownership of the shares held by his spouse.

The Reporting Persons specifically disclaim beneficial ownership over such shares and units held by the persons listed above.

**(b)**
Item 5(a) of this Statement is incorporated herein by reference.

**(c)**
This Amendment is being filed to update the aggregate percentage of the New Class A Common Stock beneficially owned by the Reporting Persons due to dilution caused by the Issuer's issuance of additional shares of its New Class A Common Stock since the date of the filing of Amendment No. 12, and not in connection with any acquisition or disposition of any shares of New Class A Common Stock by the Reporting Persons. The Reporting Persons have not effected any transactions in New Class A Common Stock during the past 60 days.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** INTERCONTINENTAL EXCHANGE, INC.

**Signature:** /s/ Andrew J. Surdykowski

**Name/Title:** Andrew J. Surdykowski, General Counsel

**Date:** 05/04/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Intercontinental Exchange Holdings, Inc.

**Signature:** /s/ Andrew J. Surdykowski

**Name/Title:** Andrew J. Surdykowski, General Counsel

**Date:** 05/04/2026