Data shows whales are not selling large amounts of Bitcoin at the current BTC price and institutions are accumulating BTC.
Bakkt is a cryptocurrency-focused institutional investment firm that was spun out of Intercontinental Exchange, or ICE — an operator of large, regulated exchanges such as the New York Stock Exchange.
In September 2019, the firm launched its much-anticipated Bitcoin (BTC) futures trading platform. While the initial launch was underwhelming, with relatively low volume given the hype, Bakkt announced additional products in the following months such as fully regulated BTC options trading, cash-settled futures and a partnership with Starbucks.
Since its announcement, Bakkt has caught the attention of the crypto industry, as it marks a serious effort by the world’s largest exchange to onboard institutional investors into the burgeoning crypto asset class.
The firm also generated buzz in the industry after former CEO Kelly Loeffler became the first Republican woman to represent the state of Georgia in the United States Congress where she is expected to support crypto-friendly regulation.
Despite the milestone, Bakkt’s future volumes pale in comparison to those of top crypto exchanges Binance and Huobi.10637
Bakkt breaks another record with more than 11,700 Bitcoin futures contracts traded on Tuesday.9974
$675 million worth of Bitcoin options expired today. Experts debate its potential impact on Bitcoin’s price.14362
Galaxy Digital’s trading engine will be paired with Bakkt’s custody services in a collaborative effort to meet institutional demand for Bitcoin.3331
Though former Bakkt CEO Kelly Loeffler’s Georgia Senate seat faces no risk in the June 9 primary, everything is up for grabs in November.5001
Volumes for Bakkt’s futures delivered in BTC are trumping fiat settlements as markets rise to fill a days-old CME gap.5522
Former Bakkt CEO Kelly Loeffler sent documentation concerning her stock trades to the Justice Department amid insider trading accusations.3993
Financial statement reviews show the Intercontinental Exchange, or ICE, gifted U.S. Senator Kelly Loeffler millions during her departure from its daughter company, Bakkt.3969
US Senator and former Bakkt CEO finally filed her financial disclosures after a four-month extension and an insider trading scandal, revealing that she is very rich indeed.4239
Senator Kelly Loeffler, formerly CEO of Bakkt and currently a member of the task force to reopen the U.S., sees plummeting approval ratings.3720
Bakkt’s new CEO steps down, leaving the Vice President of mergers and acquisitions to take over.3859
The former CEO of Intercontinental Exchange subsidiary Bakkt, now a Republican senator for Georgia, has been rewarded with a new appointment despite recent controversies.6506
Former Bakkt CEO and Georgia senator Kelly Loeffler announced that she and her husband will liquidate all their holdings.6133
Physical delivery of Bitcoin for futures on the Intercontinental Exchange’s Bakkt platform is going strong, despite a tumultuous month for the markets.5285