{"id":34423,"date":"2021-01-08T10:23:28","date_gmt":"2021-01-08T08:23:28","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34423"},"modified":"2025-08-28T20:28:05","modified_gmt":"2025-08-28T17:28:05","slug":"bakkt-to-go-public-via-spac-merger","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bakkt-to-go-public-via-spac-merger\/","title":{"rendered":"Bakkt to go public via SPAC merger"},"content":{"rendered":"<p>Bakkt\u2019s institutional platform for trading bitcoin derivatives will become a public company via a reverse merger. The deal is valued at $2 billion, Bloomberg reports.<\/p>\n<p><!--more--><\/p>\n<p>Sources say Bakkt will absorb VPC Impact Acquisition Holdings. This is a so-called SPAC company \u2014 it is public but does not conduct operating activities. The aim of SPAC is to help others go public.<\/p>\n<p>In 2020 SPACs surged in popularity. According to Goldman Sachs, reverse-merger deals with such firms accounted for 52% of the $140 billion raised in IPOs.<\/p>\n<p>Bakkt trades options and both physically delivered and cash-settled bitcoin futures. The platform is part of the financial group Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange.<\/p>\n<p>Bakkt\u2019s launch was announced in August 2018. By the end of the year it had attracted $182.5 million from Boston Consulting Group, Galaxy Digital, Protocol Ventures and others. After this round of financing it was valued at $740 million.<\/p>\n<p>In 2020 it attracted another $300 million from Microsoft M12, PayU, Goldfinch Partners, CMT Digital and Pantera Capital.<\/p>\n<p>The launch took place in September 2019.<\/p>\n<p>Initially the platform was led by Kelly Loeffler, but she was later named to the Senate seat for the state of Georgia. In the recent elections she lost to a Democratic Party candidate.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Serving our great state has been the honor of my lifetime.<\/p>\n<p>Thank you, Georgia! <a href=\"https:\/\/t.co\/MQc0rFS208\">pic.twitter.com\/MQc0rFS208<\/a><\/p>\n<p>\u2014 Kelly Loeffler (@KLoeffler) <a href=\"https:\/\/twitter.com\/KLoeffler\/status\/1347313878116478979?ref_src=twsrc%5Etfw\">January 7, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The institutional platform for trading bitcoin derivatives Bakkt will become a public company via a reverse merger. The deal is valued at $2 billion, Bloomberg reports.<\/p>\n","protected":false},"author":1,"featured_media":34424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[780,1211],"class_list":["post-34423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bakkt","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=34423"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34423\/revisions"}],"predecessor-version":[{"id":34425,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34423\/revisions\/34425"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/34424"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=34423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=34423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=34423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}