Crypto trading exchange Bakkt, which counts NYSE-owner Intercontinental Exchange, Inc. (ICE) among its investors, is going public at the New York Stock Exchange (NYSE) via a merger with VPC Impact Acquisition Holdings Inc., a special purpose acquisition company (SPAC). SPAC companies raise money from public markets especially for the purpose of merging with startups in a particular sector and to take them public. The company will be renamed Bakkt Holdings, Inc.
Started in 2019, Bakkt was initially a trading venue for trading Bitcoin futures and options. The company's founding team consisted of ICE CEO Jeffrey Sprecher and his wife, former senator Kelly Loeffler, who also served as the company's first CEO.
While it is an end-to-end regulated
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