Soon, you’ll be able to purchase ordinary stock and warrants from Bakkt that will allow you to trade on the New York Stock Exchange under the ticker symbols “BKKT” and “BKKT WS.”
Crypto assets management firm Bakkt Holdings, the digital assets management division of Intercontinental Exchange (ICE), has revealed it will become a public company on the New York Stock Exchange starting October 18.
BAKKT partners with VPC Impact
As a result of a merger with VPC Impact Acquisition Holdings, a Chicago-based special purpose acquisition company, the ticker of Bakkt will be added to the NYSE. According to an official announcement, shareholders voted in favor of the business combination with approximately 85.1 percent approval at a meeting:
“Upon closing, 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.”
Furthermore, the merger generated more than $448 million in gross proceeds for Bakkt, which will be reinvested to develop the firm’s capabilities and partnerships.
— Bakkt (@Bakkt) September 17, 2021
Last week, Google announced a collaboration with Intercontinental Exchange’s Bakkt to allow the purchase of goods and services using Bitcoin (BTC) and other cryptocurrencies through the Google Pay platform.
The partnership, according to Bakkt CEO Gavin Michael, demonstrates the strength of the digital asset marketplace and allows consumers to use their digital assets in a real-time, secure, and reliable manner.
Back in March, Bakkt launched a payments app that lets people use cryptocurrency to buy things. Before this, they had only offered futures contracts to investors who were approved first. The app, called Bakkt Pay, is available free of charge in the U.S. Apple App Store and Google Play Store.
Cryptocurrency adoption going mainstream in US
In the United States, major support from lawmakers is giving crypto a boost as new legislation demands a safe haven for certain token initiatives.
The North Carolina House of Representatives has introduced a new draft bill, the “Clarity for Digital Tokens Act of 2021.” According to the new bill proposed by Patrick McHenry, projects would be allowed to offer tokens without registering under the Securities Act of 1933 for up to three years.