Bakkt Holdings, Inc., headquartered in Alpharetta, Georgia and New York City, provides a software as a service (SaaS) and API platform for owning and trading cryptocurrency.[1] Bakkt was founded, and is 55% owned, by Intercontinental Exchange (ICE), which also owns the New York Stock Exchange.[3][4] Bakkt earns revenue from commissions for payments and purchases and sales of cryptocurrency.[5]
History
2018–2020: Under ICE ownership
In August 2018, Intercontinental Exchange formed Bakkt in partnership with Boston Consulting Group (BCG), Microsoft, Starbucks, and others to create a software platform to manage digital assets.[6] Its first use cases was for trading and conversion of Bitcoin (BTC) versus fiat currencies. Kelly Loeffler served as Bakkt's CEO until her appointment to the United States Senate.[7]
In January 2019, Bakkt acquired certain assets of Rosenthal Collins Group to advance its consumer payments initiatives.[8]
In April 2019, Bakkt acquired Digital Asset Custody Company (DACC).[9]
In September 2019, after regulatory delays, Intercontinental Exchange began trading of bitcoin futures.[10][11]
In February 2020, Intercontinental Exchange acquired Bridge2 Solutions, a loyalty rewards provider, which was then contributed to Bakkt.[12]
2021–present: Publicly listed company
In October 2021, Bakkt completed a merger with VPC Impact Acquisition Holdings, a special-purpose acquisition company sponsored by Victory Park Capital and was listed on the New York Stock Exchange.[13][14]
In April 2023, Bakkt acquired Chicago-based integrated crypto trading platform, Apex Crypto.[15]
In March 2025, Akshay Naheta was appointed as the co-chief executive officer.[16]
In July 2025, the company sold its loyalty points business for $11 million.[17]
External links
References
- Bakkt Holdings, Inc. 2024 Annual Report (Form 10-K) U.S. Securities and Exchange Commission, March 20, 2025^
- BAKKT HOLDINGS, INC. SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 U.S. Securities and Exchange Commission, April 28, 2025^
- Steven Ehrlich. Crypto Platform Bakkt Reports First Earnings, Lays Out Bold Partnership Strategy Forbes, November 12, 2021^
- Shomik Sen Bhattacharjee. Bakkt Gets Listed on New York Stock Exchange: All You Need to Know NDTV, October 19, 2021^
- Leo Sun. Why Is Everyone Talking About Bakkt Holdings Stock? The Motley Fool, October 29, 2021^
- Shawn Tully. The NYSE's Owner Wants to Bring Bitcoin to Your 401(k). Are Crypto Credit Cards Next?: sources Fortune, August 3, 2018^
- The NYSE's Owner Wants to Bring Bitcoin to Your 401(k). Are Crypto Credit Cards Next? Fortune^
- SHAWN TULLY. Bakkt's New Acquisition Will Speed Its Plan to Streamline Consumer Payments Fortune, January 14, 2019^
- Bakkt acquires Digital Asset Custody Company, applies for NY trust company status Finextra Research, April 30, 2019^
- Alexander Osipovich. NYSE Owner Launches Long-Awaited Bitcoin Futures The Wall Street Journal, 22 September 2019^
- Alexander Osipovich, Gabriel T. Rubin. Bitcoin Futures Launch Hits Regulatory Snag Wall Street Journal, March 21, 2019, retrieved April 2, 2019^
- SHAWN TULLY. Bakkt aims to turn your rewards points into a wallet you can spend anywhere Fortune, February 5, 2020^
- Ciara Linnane. Bakkt to go public via merger with SPAC VPC Impact Acquisition in deal with $2.1 billion enterprise value MarketWatch, January 11, 2021^
- Bakkt Closes Business Combination with VPC Impact Acquisition Holdings and Will Begin Trading on the New York Stock Exchange on October 18, 2021 Business Wire, 15 October 2021^
- LEO SCHWARTZ. Digital assets platform Bakkt completes $155M deal for Apex Crypto Fortune, April 3, 2023^
- Anto Antony. Ex-SoftBank Rainmaker Naheta Picked to Head Bakkt's Turnaround Efforts Bloomberg News, March 20, 2025^
- Bakkt Announces Preliminary Second Quarter 2025 Financial Results and Definitive Agreement to Sell Loyalty Business Business Wire, July 28, 2025^