As Bakkt prepares to be listed on the NYSE, even more crypto companies could be going public in the future.
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.
Bakkt's CEO did not mention whether the company decided to stay away from XRP due to Ripple’s ongoing legal issues.15376
ICE's institutional exchange, Bakkt, will launch on stock markets at a possible $2.1 billion valuation.11246
Regulated Bitcoin futures platform Bakkt is reportedly eyeing going public through a rumored merger.14894
Kelly Loeffler has lost the Georgia runoff election to Democratic challenger Raphael Warnock.6745
Crypto derivatives showed enormous growth in 2020 as nearly $2 billion worth of BTC options expired on Christmas day.24112
The price of Bitcoin has surpassed $23,000, and analysts predict where BTC is headed next after a significant rally.35674
Data shows whales are not selling large amounts of Bitcoin at the current BTC price and institutions are accumulating BTC.20211
Despite the milestone, Bakkt’s future volumes pale in comparison to those of top crypto exchanges Binance and Huobi.10901
Bakkt breaks another record with more than 11,700 Bitcoin futures contracts traded on Tuesday.10148
$675 million worth of Bitcoin options expired today. Experts debate its potential impact on Bitcoin’s price.14627
Galaxy Digital’s trading engine will be paired with Bakkt’s custody services in a collaborative effort to meet institutional demand for Bitcoin.3421
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.5044
Volumes for Bakkt’s futures delivered in BTC are trumping fiat settlements as markets rise to fill a days-old CME gap.5588
Former Bakkt CEO Kelly Loeffler sent documentation concerning her stock trades to the Justice Department amid insider trading accusations.4053