In Brief:
- Bakkt Holdings will soon become a publicly traded company on the New York Stock Exchange.
- The public listing for Bakkt comes as a result of a merger with VPC Impact Acquisition Holdings
As of October 18, Bakkt Holdings, the digital asset management arm of Intercontinental Exchange (ICE), will become a publicly traded company on the New York Stock Exchange.
This listing was made possible by a merger between Bakkt and VPC Impact Acquisition Holdings, an investment firm based in Chicago. According to an official statement, There was approximately 85.1% approval for the merger during a shareholder’s meeting.
“The combined company’s Class A common stock and warrants are expected to begin trading on the New York Stock Exchange (“NYSE”) under the ticker symbols “BKKT” and “BKKT WS” respectively, starting Monday, October 18, 2021.:
A business combination also resulted in approximately $448 million in gross proceeds to Bakkt, which is expected to be re-invested in the company’s capability and partnership growth.
As recently as last week, Bakkt announced a partnership with Google, which allows cryptocurrencies like Bitcoin (BTC) and Ethereum to be purchased using Google Pay platforms.
