Crypto Futures Exchange Bakkt Going Public at a Valuation of $2.1 Billion
Bitcoin futures exchange Bakkt is going public via a merger with VPC Impact Acquisition Holdings, a special purpose acquisition company (SPAC) created for taking startup firms public. Both companies have now confirmed the transaction, and will be listed on the New York Stock Exchange (NYSE) under a new name – Bakkt Holdings Inc., – sometime in the second quarter of 2021. Rumours about the deal have swelled since early January. After the merger, Bakkt is expected to have an enterprise value of $2.1 billion, the company announced on Jan. 11. Bakkt was founded by Intercontinental....
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The combined company will be called "Bakkt Holdings" and will be listed on the New York Stock Exchange with an expected valuation of $2.1 billion.
ICE's Bakkt institutional exchange will launch on stock markets at a possible $2.1 billion valuation. The Intercontinental Exchange, the owner the New York Stock Exchange and institutional cryptocurrency exchange Bakkt, announced a deal that would see its crypto arm listed on the stock markets.As reported by the Wall Street Journal, Bakkt is set to merge with VPC Impact Acquisition Holdings, trading under the ticker VIH. VPC is a so-called Special Purpose Acquisition Company, or SPAC. It is a shell company whose only purpose is to buy or merge with another company and allow it to be listed....
Regulated Bitcoin futures platform Bakkt is reportedly eyeing going public through a rumored merger. Bakkt, the cryptocurrency trading platform majority-owned by Intercontinental Exchange, is rumored to be deep in discussions to go public through a merger with VPC Impact Acquisition Holdings.On Jan. 7, Bloomberg published a story citing anonymous sources “with knowledge of the matter” who claimed Bakkt is already in advanced talks regarding the merger, predicting that an official announcement on the matter could be published as soon as next week.The sources estimate the combined entity....
As Bakkt prepares to be listed on the NYSE, even more crypto companies could be going public in the future. Digital assets marketplace Bakkt is set to go public on the New York Stock Exchange in 2021, which could pave the way for more cryptocurrency service providers to follow suit. The Intercontinental Exchange announced on Jan. 11 that its cryptocurrency marketplace Bakkt would soon be listed on the NYSE public stock market. This will be done through a merger with a special purpose acquisition company VPC Impact Acquisition Holdings.The shell company will be used to merge with Bakkt in....
The price of BKKT contracted by more than 6% during its first day of public trade. Bakkt ($BKKT), an institutional and retail-facing digital asset platform founded by Intercontinental Exchange, has suffered a drawdown of -6.4% after closing a volatile first day of trading as a publicly listed company.After launching on the New York Stock Exchange (NYSE) at $9.45 on the morning of Oct. 18, BKKT rose by roughly 3.3% up to $9.77 during its first 30 minutes of trading. However, traders quickly moved to take profits, causing prices to slump by -9.5% down to $8.84 followed by lunchtime.According....