Bakkt Makes Power Move: Snaps Up 30% of Marusho Hotta, Rebrands as Bitcoin.jp for Crypto Treasury Domination

Wall Street meets Web3 as Bakkt plants its flag in Japan's crypto frontier. The institutional trading platform just grabbed a 30% stake in Marusho Hotta—now rebranded as Bitcoin.jp—to build a next-gen digital asset treasury.

Why it matters: This isn't your cousin's crypto exchange. We're talking about ICE-backed infrastructure going full samurai on Japan's regulated market—with a name that screams 'crypto clarity' in a sector that desperately needs it.

The play: While traditional finance still debates proof-of-reserves, Bakkt's cutting through the noise. Their new Bitcoin.jp vehicle will focus on corporate crypto treasury services—because apparently holding JPY at 0.1% interest wasn't painful enough for Japanese businesses.

Bottom line: When the suits start buying the shovels instead of the gold, you know we've reached peak institutional adoption. Just don't expect them to HODL through the next bear market.

• Bakkt buys 30% stake in Japan’s Marusho Hotta, rebrands as bitcoin.jp for Bitcoin treasury.
• Bakkt expands into Japan, capitalizing on favorable regulations for Bitcoin growth.
• Marusho Hotta’s stock rises 36% after the acquisition, reflecting positive market reaction.

Bakkt Holdings has purchased 30% of the shares of Marusho Hotta Co., Ltd., a Tokyo-listed company that specializes in the production of specialty yarns. Under the agreement, Bakkt will become the largest shareholder of Marusho Hotta, which will soon be rebranded to “bitcoin.jp”. 

According to the press release, Phillip Lord, the President of Bakkt International, will be the new CEO of Marusho Hotta. This management shift will lead the company’s rebranding from its current focus towards a Bitcoin-based business strategy.

Notably, Bakkt has operations in Japan, other parts of Asia, and Latin America. Having rebranded Marusho Hotta as “bitcoin.jp”, Bakkt will incorporate Bitcoin into the company’s treasury management strategy, which will act as a foundation for future expansion within the regions.

Japan’s Crypto Regulations Back Bakkt’s Bitcoin Expansion

The company’s acquisition of Marusho Hotta is also part of its strategy for venturing into international markets, especially in Japan. Co-CEO Akshay Naheta believes that the regulatory environment in Japan is conducive to developing a Bitcoin-focused business. 

The co-CEO noted, “We look forward to working with MHT’s team to integrate bitcoin into their operating and financial model and to establish MHT as a leading Bitcoin treasury company.” As part of its financial and operational framework, the firm will focus on investing in bitcoin and other digital assets. 

Moreover, the deal follows Bakkt’s recent decision to reorient itself as a dedicated crypto infrastructure company. The company also closed a $75 million public offering, the proceeds of which were to be used to purchase Bitcoin.

In addition, in June, the company filed a proposal to raise up to $1 billion to expand its crypto asset treasury strategy, further solidifying its status in the global market to support the crypto infrastructure.

Bakkt Approves Digital Asset Allocations in New Treasury Strategy

Marusho Hotta Stock Rises After Acquisition Deal

Following the announcement of the acquisition, Marusho Hotta’s stock trading on the Tokyo Stock Exchange ROSE by more than 36%. This positive stock price reflects an optimistic sentiment about the deal. It is also a pivotal change for Bakkt, which has moved from its initial focus on loyalty programs and reoriented itself toward becoming a dedicated crypto infrastructure firm.

Furthermore, this adds to the growing interest in Bitcoin in corporate treasury strategies by companies, while some organizations are diversifying their investments to include other cryptocurrencies like ethereum (ETH), Solana (SOL), and XRP.

Hundreds of public companies now hold Bitcoin on their balance sheets, including crypto-native firms like miners, treasury companies, and traditional businesses diversifying their treasury strategies with Bitcoin.