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Rumours suggest Bakkt could be going public in the new merger

Rumours suggest Bakkt could be going public in the new merger

Quick take

1 minute read

  • Bakkt is allegedly going to be going public through a merger with VPC impact acquisition holdings.
  • Bakkt was launched in 2019 as an institutional focused regulated platform that provides “physically delivered“ bitcoin futures contracts. 

Known for its regulated bitcoin futures, the cryptocurrency trading platform known as Bakkt is allegedly going to be going public through a merger with VPC impact acquisition holdings.

For those that don’t know, Bakkt has launched two years ago in 2019 as an institutional focused regulated platform that provides “physically delivered“ bitcoin futures contracts. Over the past week alone, the exchange's futures of $286 million worth of trade volume.

Rumours started to circulate when Bloomberg posted an article on the 7th of January this week noting some anonymous sources who had knowledge close to the matter. They claimed that the platform is already in advanced talks in regards to this new collaboration. Furthermore, they have predicted that an official announcement could come within the next week.

It is estimated by the sources that the combined companies would be valued as more than $2 billion after the merger is completed.

As a little bit of background on VPC, they are a special purpose acquisition company as closely affiliated with Victory Park Capital which is a registered alternative investment company by the securities and exchange commission in the United States. John Martin, the chief executive of VPC has explained that the main goal for the company is to “identify, partner with and help grow a business in the fintech sector.”

This will certainly be an interesting topic to keep your eye on over the next week.

 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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