ICE-Owned Bakkt Nears Merger with Victory Park SPAC
Via this prospective merger deal, the Intercontinental Exchange (ICE)-backed Bakkt platform has joined the narrow list of blockchain and crypto-related firms eyeing a public listing.
The New York Stock Exchange today announced the NYSE Bitcoin Index (NYXBT), the first exchange-calculated and disseminated bitcoin index.
Via this prospective merger deal, the Intercontinental Exchange (ICE)-backed Bakkt platform has joined the narrow list of blockchain and crypto-related firms eyeing a public listing.
ICE CEO Jeffrey Sprecher noted that Bakkt is the main booster for ICE’s growth and that the key focus for Bakkt in 2020 is consumer adoption.
Bakkt is going to launch its app already in 2020. And it is expected that it will have more in common with PayPal than with Coinbase.
Bitcoin hash rate has set a new record. It has exceeded 102 quintillion for the first time in history which has become a new milestone for the entire industry.
On September 11, Bitwise officially announced the appointment of the Bank of New York Mellon to serve as the administrator and transfer agent for its forthcoming Bitcoin exchange-traded fund (ETF).
As Bitcoin price dropped below $10,600 level failing to climb over heavy resistance, it demonstrated a steep fall to $10,068 within a span of minutes. Analysts claim the drop could signal a short term trend line breakdown if BTC fails to close above $10,200.
While some experts are not very optimistic about the future of Bitcoin, some other believe that Bitcoin is likely to strengthen its positions.
Kelly says that the regulated and licensed Bakkt platform will provide an easy entry point for the arrival of institutional products like Bitcoin ETF.
Bakkt aims to develop an integrated platform with a seamless global network to enable crypto enthusiasts operate their digital spendings easily.
Intercontinental Exchange will be discussing with other financial institutions on working to make ICE-backed bitcoin swap contracts available to the banking institutions.