Starting Oct. 18, Bakkt’s common stock and warrants will be listed on NYSE under the ticker symbols “BKKT” and “BKKT WS,” respectively.
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.
Millions of retailers currently accept Google Pay as a form of payment, potentially giving Bakkt users the ability to pay in crypto at a variety of stores and online markets.9758
Quiznos customers will soon be able to pay in Bitcoin via Bakkt's app at certain Colorado locations.1757
Institutional inflow to crypto is only getting started, but the technology promises to improve the futures markets beyond crypto.6591
Touted for its ability to allow users to "leverage the digital assets in their day-to-day lives,” the Bakkt Visa debit card is now available for online and in-store purchases.5760
Intercontinental Exchange has sold its 1.4% stake in Coinbase to reduce the company’s debt.7422
Bakkt believes its new crypto payments app will unlock more than $1 trillion worth of digital assets for commerce.8365
Bakkt will also have a money transmitter license in the state of New York.12706
As Bakkt prepares to be listed on the NYSE, even more crypto companies could be going public in the future.24046
Bakkt's CEO did not mention whether the company decided to stay away from XRP due to Ripple’s ongoing legal issues.15599
ICE's institutional exchange, Bakkt, will launch on stock markets at a possible $2.1 billion valuation.11912
Regulated Bitcoin futures platform Bakkt is reportedly eyeing going public through a rumored merger.15014
Kelly Loeffler has lost the Georgia runoff election to Democratic challenger Raphael Warnock.6855
Crypto derivatives showed enormous growth in 2020 as nearly $2 billion worth of BTC options expired on Christmas day.24536
The price of Bitcoin has surpassed $23,000, and analysts predict where BTC is headed next after a significant rally.35950