Bakkt set to start trading on NYSE next week

Oct 15, 2021 | The Block News | 0 comments

bakkt-set-to-start-trading-on-nyse-next-week

Digital asset platform Bakkt Holdings has completed its merger with VPC Impact Acquisition Holdings, Intercontinental Exchange (ICE) announced on Friday.

Bakkt will start trading on the New York Stock Exchange (NYSE) as a public company starting Oct. 18, ICE said in a press release. It will use the ticker “BKKT.” 

ICE, best known for operating the NYSE, launched Bakkt in 2018. Bakkt first announced plans to go public in January through a merger with special purpose acquisition corporation (SPAC) VPC, with the deal’s valuation totaling about $2.1 billion. 

ICE said it has an economic interest of about 68% in the merged company, plus a minority voting interest. VPC’s shareholders approved the merger with Bakkt during an Oct. 14 meeting, with about 85.1% of ballots in favor of the deal.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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