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 order for it to be listed on the stock market without having to undertake an initial public offering. Initial reports …

Bakkt, one of the biggest cryptocurrency companies in the United States, will not support XRP as part of its further product development, according to the CEO. On Jan. 11, Bakkt CEO Gavin Michael sat down with the Axios Re:Cap podcast to discuss the mainstream adoption of Bitcoin (BTC) and other digital assets. Michael said that Bakkt is planning to roll out support for a number of altcoins on its platform in the future, but XRP is not one of them. Michael declined to comment on whether the company decided to stay away from XRP due to Ripple’s legal issues sparked …

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 on the stock markets without going through the lengthy and expensive process of an initial public offering. …

Bakkt, a 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 could be valued at more than $2 billion, should the merger be completed. VPC is a special purpose acquisition company closely affiliated with Victory Park …

Senator Kelly Loeffler, formerly the CEO of Bitcoin (BTC) futures exchange Bakkt, will not be returning to Washington, at least not as a legislator. According to AP News on Jan. 6, Democratic candidate Raphael Warnock has won one of the tightly contested runoff elections for the United States Senate in the Southern state of Georgia. The runoff elections have been closely watched in the United States, as they will determine which party controls a majority in the Senate, which will set the timbre for President-elect Biden's legislative approach when he assumes office on Jan. 20. The race is still too …

2020 was the most important year for the crypto derivatives market so far. Both Bitcoin (BTC) and Ether (ETH) derivatives steadily grew throughout the year, with their futures and options products available across exchanges such as the Chicago Mercantile Exchange, OKEx, Deribit and Binance. On Dec. 31, Bitcoin options open interest reached an all-time high of $6.8 billion, which is three times the OI seen 100 days before that, signifying the speed at which the crypto derivatives market is growing amid this bull run. The bull run has led to a lot of new investors entering the market amid the …

Bitcoin price surpassed $20,000 with ease on its third retest, buoyed by a surge in buy volume. Following the breakout, analysts anticipate the dominant cryptocurrency to eventually rise to the mid-$30,000s. However, in the short term, the expectations of a pullback are growing. There are compelling arguments for both short-term bull and bear cases. Traders who are highly optimistic in the near term state that the surge past $20,000 has confirmed a new bull trend. With no technical resistance above it, a continuation of the rally is anticipated. Because there is no historical data to rely on above $20,000, Bitcoin …

As the price of Bitcoin (BTC) breaks past $11,100 on Sep. 19, whale activities and Bakkt’s all-time high volume suggests strengthening momentum. The 4-hour price chart of Bitcoin. Source: TradingView.com According to CryptoQuant’s Ki Young Ju, fewer whales have been sending BTC to exchanges. Historically, the data indicates less selling pressure from high-net-worth Bitcoin holders. Simultaneously, the daily volume of Bakkt’s institution-focused Bitcoin futures market achieved a record high. Operated by ICE, the parent company of the New York Stock Exchange (NYSE), Bakkt facilitates BTC trades for institutions. The Bitcoin whale activity and Bakkt’s record volume suggest that both whales …

Bakkt, a regulated platform for crypto asset custody and trading owned by Intercontinental Exchange, has reported record daily trading volumes for its physically-settled Bitcoin (BTC) futures contracts. On Sept. 16, Bakkt announced that more than $200 million worth of BTC contracts had been traded over a single day — breaking its previous record by 36%. According to crypto market data aggregator Skew, the record figure is roughly double the average daily volumes posted throughout September so far. Despite being touted as the likely catalyst for an institutional-led bull market, Bakkt’s Bitcoin derivatives failed to meet the expected impact, seeing sustained …

Intercontinental Exchange subsidiary, Bakkt, is reporting record numbers of trades for its monthly Bitcoin futures contracts as BTC prices made a new high for the year. The institutional investing platform reported its highest ever figure for Bitcoin monthly futures on Jul. 28 with 11,506 contracts — an increase of 85% over the previous record. The move followed a surge in the underlying asset’s price to a 2020 high of $11,400. On July 29, Bakkt topped the new record with 11,706 contracts traded. “Talk about momentum! We beat yesterday's record with 11,706 Bakkt Bitcoin Futures traded today - that's over $125MM …

On June 26, $675 million worth of Bitcoin options expired, while industry experts remain divided on its potential effect on price volatility. Some believe the record expiration date will cause Bitcoin (BTC) to see a large price movement. With less than 24 hours until the highly anticipated expiration, Bitcoin’s price dropped by 7% on a single day on June 24. Traders speculate the drop was partially triggered by the uncertainty in the United States’ stock market. A rising number of coronavirus infections and concerns around the high unemployment rate led to an overall increase in caution toward risk-on assets, including …

The Intercontinental Exchange’s digital asset custody and derivatives platform Bakkt has partnered with crypto asset manager Galaxy Digital to launch a ‘white glove’ service for institutions seeking Bitcoin (BTC) exposure. The collaboration will see Galaxy Digital Trading’s (GDT) matching engine and trading platform offered alongside Bakkt’s digital asset custody services. “We designed this partnership to service the uptick in demand our two firms have received from traditional asset managers seeking access to physical Bitcoin,” said Galaxy Digital’s Tim Plakas. “Together, Galaxy Digital and Bakkt offer a safe, efficient, and well-regulated route into physical bitcoin access,” Plakas added. Galaxy Digital and …