Cryptocurrency company Bakkt, which specializes in organizing Bitcoin futures trading, will list shares on the New York Stock Exchange on Monday.
Bakkt Holdings announced in a press release that on Monday, October 18, it will list its shares on the New York Stock Exchange (NYSE). Thus, Bakkt will join the ranks of cryptocurrency companies whose securities are traded on traditional stock exchanges. Bakkt’s Class A shares and warrants will be listed on the New York Stock Exchange under the tickers BKKT and BKKT WS.
Earlier this year, Bakkt announced its intention to go public through a merger with VPC Impact Acquisitions Holdings. Bakkt confirmed this week that all placement negotiations have been completed. It is worth noting that Bakkt chose the New York Stock Exchange for a reason. In 2019, the company launched Bitcoin derivatives trading there.
As a result of the merger, Bakkt’s gross revenues rose to $ 450 million. The company plans to use the proceeds from the sale of shares to fund investments in “platform capabilities and marketing, and to accelerate current and future partnerships.”
Bakkt CEO Gavin Michael said:
“Today is a special day for Bakkt. The business combination gave us the capital we needed to continue doing what we do best, which is to innovate. We’re thrilled to move on to the next chapter and look forward to driving forward our growth initiatives and furthering our mission to unify the digital economy. ”
In December 2019, Bakkt announced the launch of the first regulated Bitcoin option. At the same time, the company is very responsible for the legislation. Bakkt previously received a BitLicense from the New York State Department of Financial Services (NYDFS). This gave her the opportunity to legally work with residents of New York State.
