Bakkt announced that Bakkt will be trading publicly after announcing plans several months ago. Thus, Bakkt will join the likes of Coinbase as a cryptocurrency-related company having its shares traded on giant stock exchanges.
CryptoPotato reported Bakkt’s plans to go public via a merger with VPC Impact Acquisitions Holdings. The shares of Class A common stock will start trading on the New York Stock Exchange Monday, October 18th 2021 under the ticker symbols BKKT WS and BKKT WS.
Bakkt today marks a very special day. The business combination closed today, providing us the capital we need to innovate. We are excited to begin the next chapter and look forward to propelling growth initiatives and furthering our mission to connect the digital economy.” – Gavin Michael, CEO.
Bakkt reported that the company has made approximately $450 million in gross profits from the business merger. Bakkt plans to use the funds to fund investments in the platform’s capabilities, marketing efforts and acceleration of current and future partnership. In April, COIN began trading on Nasdaq. The company’s value at that time was over $100 billion.
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