Bakkt shares rise 8.45% amid broader crypto-equity rally

Bakkt shares rose 8.45% to $8.09 on Friday. The shares moved higher as crypto-linked equities rallied. Bitcoin prices also surged. The Bitcoin surge reflected renewed optimism about U.S. digital asset regulation after the Clarity Act recently failed in the Senate. On Thursday, the Commodity Futures Trading Commission submitted a formal proposal to regulate crypto asset transactions and markets. The CFTC and the Securities and Exchange Commission also made coordinated announcements that day. The actions signaled to investors that the agencies were moving to establish a framework after the stalled legislation. Bakkt shares were near their 52-week low of $6.71, according to Benzinga Pro data.