BAKKT SHIFTS FOCUS TO CUSTODY SERVICES, ADDS SUPPORT FOR DOGE, SHIB, OTHER COINS

Last updated: June 19, 2025, 20:06 | Written by: Charlie Lee

In a dynamic move that signals a strategic realignment, cryptocurrency firm Bakkt is doubling down on its digital asset custody services. Aside from Bitcoin (BTC) and Ether (ETH), Bakkt will expand its custodial support to include Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum Classic (ETC), Litecoin (LTC), Shiba Inu (SHIB)This decision comes alongside the exciting announcement of expanded support for a range of new coins, including the popular meme coins Dogecoin (DOGE) and Shiba Inu (SHIB). Aside from Bitcoin (BTC) and Ether (ETH), Bakkt will expand its custodial support to include Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum Classic (ETC), Litecoin (LTC), Shiba Inu (SHIB) and USD Coin (USDC). The company expects to add more coins to its custodial services in early 2025.This development, revealed on November 15th, marks a significant shift for Bakkt, which appears to be prioritizing institutional-grade custody solutions amidst the evolving landscape of the crypto market.For those unfamiliar, crypto custody refers to the secure storage and management of digital assets, a crucial service for institutions and individuals seeking to protect their investments from theft or loss.The move comes shortly after Bakkt's quarterly earnings report which showed assets under custody declined 28%, suggesting a potential need to refocus its business strategy to bolster this core area.This signals an opportunity for Bakkt to leverage its established infrastructure and security protocols to cater to the growing demand for secure digital asset storage.

The addition of DOGE and SHIB, along with other prominent cryptocurrencies, demonstrates Bakkt's commitment to providing a comprehensive and versatile custody solution for its clients.By broadening its supported asset base, Bakkt aims to attract a wider range of institutional investors and further solidify its position as a leading provider of digital asset custody services.But what exactly does this shift mean for the future of Bakkt and the broader crypto ecosystem? Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to anLet's delve deeper into the details of this strategic pivot.

Bakkt's Strategic Realignment: Returning to its Roots in Crypto Custody

Bakkt's announcement to refocus on custody services represents more than just a business decision; it's a recognition of the growing importance of secure and reliable digital asset storage in the rapidly maturing cryptocurrency market. Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. Aside from Bitcoin and Ether (), Bakkt will expand its custodial support to include Bitcoin Cash (), Dogecoin (), Ethereum Classic (), Litecoin (), Shiba Inu and USD Coin ().While the company has explored various avenues, including a consumer-facing app, the need for robust custody solutions has become increasingly apparent, particularly in light of recent market events and regulatory scrutiny.The events of the past year have highlighted the paramount importance of secure crypto custody, according to Bakkt CEO Gavin Michael.This realignment aims to leverage Bakkt's existing expertise and infrastructure to address this critical need within the industry.

Why Crypto Custody Matters

Digital asset custody is fundamentally different from traditional asset custody. Alongside Bitcoin and Ethereum, Bakkt is broadening its custody support to encompass Bitcoin Cash, Dogecoin, Ethereum Classic, Litecoin, Shiba Inu, and USDC, intending to include additional tokens in its custody service by early 2025.Cryptocurrencies are secured by cryptographic keys, and losing these keys means losing access to the associated assets. Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. Aside from Bitcoin (BTC) and Ether (ETH), Bakkt will expand its custodial support to include Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum Classic (ETC), Litecoin (LTC), Shiba Inu (SHIB) [ ]Qualified custodians, like Bakkt, provide secure storage solutions that minimize the risk of theft, loss, or unauthorized access. [ad_1]Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. Aside from Bitcoin (BTC) and Ether (ETH), Bakkt will expand its custodial suThis is particularly important for institutional investors who require a high level of security and compliance to satisfy regulatory requirements and protect their clients' assets. Bakkt is expanding its custody services shortly after its quarterly earnings report showed assets under custody declined 28%. Crypto firm Bakkt shifts focus to custody services, adds support for DOGE, SHIB, other coins - XBT.MarketWithout proper custody solutions, institutions are hesitant to enter the digital asset space, hindering the growth and adoption of cryptocurrencies.

Security: Custodians employ advanced security measures to protect digital assets from hacking and theft.
Compliance: Custodians adhere to strict regulatory standards, providing assurance to institutional investors.
Insurance: Many custodians offer insurance coverage to protect against potential losses.

Expanding Custodial Support: DOGE, SHIB, and Beyond

The core of Bakkt's renewed focus lies in expanding its custodial support to encompass a wider range of digital assets.In addition to Bitcoin (BTC) and Ethereum (ETH), Bakkt will now offer secure storage for:

Bitcoin Cash (BCH)
Dogecoin (DOGE)
Ethereum Classic (ETC)
Litecoin (LTC)
Shiba Inu (SHIB)
USD Coin (USDC)

This expansion is significant for several reasons.First, it demonstrates Bakkt's recognition of the growing diversification within the cryptocurrency market.By supporting a broader range of assets, Bakkt can attract a wider range of clients with varying investment preferences.Second, the inclusion of meme coins like DOGE and SHIB indicates a willingness to cater to the evolving trends within the crypto space, acknowledging the growing popularity and market capitalization of these assets.Finally, Bakkt intends to add more coins to its custodial services in early 2025, suggesting a long-term commitment to expanding its supported asset base.

The Significance of DOGE and SHIB Support

The addition of Dogecoin and Shiba Inu is particularly noteworthy. Cryptocurrency firm Bakkt appears to be returning to digital asset custody as its core business, adding support for six new coins, according to an announcement on Nov. 15. In addition to Bitcoin (BTC) and Ether (ETH), Bakkt will expand its custody support to include Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum [ ]These meme coins have gained significant popularity and market capitalization, attracting a large and active community of investors.However, due to their origins and volatile nature, many institutional investors have been hesitant to include them in their portfolios.Bakkt's decision to offer custody services for DOGE and SHIB could help to legitimize these assets and make them more accessible to institutional investors.

For example, imagine a hedge fund manager who wants to allocate a small portion of their portfolio to meme coins.Without a qualified custodian, they would have to rely on potentially less secure storage solutions, increasing the risk of loss or theft. Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. Aside from Bitcoin (BTC) andBakkt's custody services provide a secure and compliant solution, allowing the hedge fund manager to participate in the meme coin market with greater confidence.

Targeting Business-to-Business Clients: A Strategic Move

Expanding custody services is an important aspect of Bakkt’s strategy for targeting business-to-business (B2B) clients.This focus on B2B indicates a strategic shift away from the company's previous endeavors with a consumer-facing app, which was sunsetted in February. Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. Aside from Bitcoin (BTC) and Ethereum (ETH), Bakkt will expand its custodial support to include Bitcoin Cash (BCH), Dogecoin (DOGE)The decision to concentrate on B2B stems from the recognition that institutional investors and businesses have a greater need for secure and compliant digital asset custody solutions.By catering to this segment, Bakkt can leverage its expertise and infrastructure to generate sustainable revenue and establish itself as a leading provider of custody services.

Why B2B Crypto Custody is Crucial

Businesses across various sectors are increasingly exploring the use of cryptocurrencies for payments, investments, and other applications.However, handling digital assets requires specialized expertise and infrastructure to ensure security and compliance.A business-to-business (B2B) custody provider plays a critical role in safeguarding digital assets for institutions, offering specialized solutions for:

Exchanges: Securing their digital asset reserves.
Hedge Funds: Providing secure storage for their crypto investments.
Corporate Treasuries: Managing their digital asset holdings.
Payment Processors: Enabling secure cryptocurrency transactions.

Impact on the Cryptocurrency Market

Bakkt's renewed focus on custody services and expanded asset support is likely to have a positive impact on the broader cryptocurrency market.By providing a secure and compliant solution for institutional investors, Bakkt can help to increase the adoption of cryptocurrencies and attract more capital into the market. Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. Aside from Bitcoin (BTC) and Ether (ETH), Bakkt will expand its custodial support to include Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum ClassicThe availability of institutional-grade custody can also help to reduce volatility and improve market stability, as it allows larger investors to participate in the market with greater confidence.

Increased Institutional Adoption

Institutional investors, such as hedge funds, pension funds, and endowments, play a crucial role in the financial markets. Bakkt shifts focus to custody services, adds support for DOGE, SHIB, other coins Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. Aside from Bitcoin (BTC) and Ether (ETH), Bakkt will expand its custodial support to [ ]Their participation in the cryptocurrency market can provide significant liquidity and stability. Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. Aside from Bitcoin (BTC) and Ether (ETH), Bakkt will expand its custodial support to include Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum Classic (ETC), Litecoin (LTC), Shiba InuHowever, many institutional investors have been hesitant to invest in cryptocurrencies due to concerns about security, compliance, and regulatory uncertainty.Qualified custody solutions, like those offered by Bakkt, address these concerns, making it easier for institutions to allocate capital to digital assets.As more institutions enter the market, the demand for cryptocurrencies will increase, driving up prices and further legitimizing the asset class.

Addressing Common Questions about Crypto Custody

What are the different types of crypto custody?

There are several types of crypto custody solutions available, each with its own advantages and disadvantages. Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. Aside from Bitcoin ( BTC ) and Ether ( ETH ), Bakkt will expand its custodial support to include Bitcoin Cash ( BCH ), Dogecoin ( DOGE ), Ethereum Classic ( ETC ), Litecoin ( LTCThe primary types include:

Self-custody: Storing your own private keys.This gives you complete control over your assets but requires significant technical expertise and carries a higher risk of loss or theft.
Third-party custody: Entrusting your assets to a custodian who manages the private keys on your behalf.This offers greater security and convenience but requires trusting the custodian with your assets.
Multi-signature custody: Requiring multiple signatures to authorize transactions, adding an extra layer of security.

How do I choose the right crypto custodian?

Choosing the right crypto custodian is a crucial decision that requires careful consideration of your individual needs and risk tolerance. We would like to show you a description here but the site won t allow us.Here are some key factors to consider:

Security: Look for a custodian with robust security measures, including cold storage, multi-factor authentication, and insurance coverage.
Compliance: Ensure that the custodian is compliant with all relevant regulations.
Reputation: Choose a custodian with a strong track record and positive reviews.
Fees: Compare the fees charged by different custodians.
Supported assets: Make sure the custodian supports the cryptocurrencies you want to store.

What are the risks associated with crypto custody?

While using a qualified custodian can significantly reduce the risks associated with storing digital assets, there are still some inherent risks to be aware of:

Custodian risk: The risk that the custodian could be hacked, experience a security breach, or become insolvent.
Theft or loss: The risk that your assets could be stolen or lost due to negligence or malicious activity.
Regulatory risk: The risk that regulatory changes could negatively impact the custodian or your assets.

The Future of Bakkt and Crypto Custody

Bakkt's renewed focus on custody services positions the company for growth in the evolving digital asset market. Crypto firm Bakkt appears to be returning to digital asset custody as its primary business,adding support for six new coins, according to an announcem Crypto news community Cryptocurrency issue news tradingAs institutional adoption of cryptocurrencies continues to increase, the demand for secure and compliant custody solutions will only grow stronger. Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. Aside from Bitcoin (BTC) and Ether (ETH), Bakkt will expand its custodial support to include Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum Classic (ETC), Litecoin (LTC), Shiba Inu (SHIB) andBy expanding its supported asset base, targeting B2B clients, and leveraging its expertise in security and compliance, Bakkt aims to become a leading player in the crypto custody space.

Looking ahead, Bakkt's success will depend on its ability to adapt to the changing needs of the market and continue to innovate its custody solutions. The events of the past year have revealed why qualified crypto custody is so necessary, Gavin Michael, CEO of Bakkt, said in a statement. Expanding custody services is also an important aspect of Bakkt s strategy for targeting business-to-business clients. In February, the company announced that it would sunset its consumer-facing appThis could involve exploring new technologies, such as multi-party computation (MPC), to enhance security, or expanding its services to include staking and lending.Ultimately, Bakkt's long-term success will be determined by its ability to provide a trusted and reliable platform for institutions and businesses to securely store and manage their digital assets.

Conclusion: Key Takeaways and What it Means for You

Bakkt's strategic shift towards custody services, coupled with the inclusion of Dogecoin (DOGE), Shiba Inu (SHIB), and other prominent altcoins, is a significant development for both the company and the broader crypto landscape. Bakkt shifts focus to custody services, adds support for DOGE, SHIB, other coins Cointelegraph By Ana Paula Pereira Uncategorized NovemThis move highlights the growing demand for secure and compliant digital asset storage solutions, particularly among institutional investors.By refocusing its efforts on custody, Bakkt is positioning itself to capitalize on this trend and establish itself as a leading provider of institutional-grade custody services. Bakkt is expanding its custody services shortly after its quarterly earnings report showed assets under custody declined 28%. Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. Aside from Bitcoin (BTC) and Ether (ETH), Bakkt will expand its custodial support to include BitcoinThe addition of meme coins suggests a willingness to adapt to evolving market trends and cater to a broader range of investors.

For individuals and businesses considering entering the cryptocurrency market, Bakkt's custody services provide a viable option for securely storing their digital assets.However, it's crucial to conduct thorough research and understand the risks involved before entrusting your assets to any custodian.As the cryptocurrency market continues to evolve, the need for secure and reliable custody solutions will only become more critical.Keep an eye on Bakkt as they continue to innovate and shape the future of digital asset custody.Consider exploring their offerings if you are looking for a regulated and reliable partner to safeguard your digital assets.