Bakkt Surges 31.7% on $310M Volume to 400th U.S. Equity Rank as Institutional Custody Deals and Real-Time Analytics Boost Digital Asset Infrastructure Momentum

Bakkt Holdings (BKKT) surged 31.70% on September 30, 2025, with a trading volume of $310 million, marking a 66% increase from the previous day. The stock ranked 400th in volume among U.S. equities, reflecting heightened market activity in the digital asset infrastructure sector.

Recent developments highlight strategic advancements in Bakkt’s hybrid digital asset platform. The company announced a partnership with a major institutional custodian to expand its institutional-grade custody solutions, addressing growing demand for secure storage of digital assets. This collaboration aims to enhance liquidity and operational efficiency for institutional clients, potentially broadening Bakkt’s market footprint.

Operational updates include the launch of a new suite of tools for real-time market data analytics, targeting both institutional and retail traders. These tools are designed to integrate seamlessly with Bakkt’s existing trading infrastructure, offering users enhanced transparency and execution capabilities. The move aligns with industry trends toward democratizing access to sophisticated trading technologies.

Regarding the backtesting framework: The proposed methodology involves selecting the top 500 U.S. equities by daily trading volume, with positions held for one trading day. Key parameters include equal-weight allocation and assumptions about transaction costs. Final execution will depend on confirmation of market universe inclusion (e.g., excluding ETFs or ADRs) and cost structures.