Bakkt, the regulatory compliant Bitcoin derivatives exchange is currently considering to go public through a speculated merger.
According to Bloomberg, Bakkt is holding advanced merger talks with VPC Impact Acquisition Holdings to go public. If the two firms merge, the combined entity could have a valuation of about $2 billion, according to the report.
Bakkt majorly owned by Intercontinental Exchange (ICE) was launched in 2019 and is widely known for its physically-delivered Bitcoin futures contract. It has raised over $300 million from investors including top capital venture firms including Pantera Capital, Galaxy Digital, CMT Digital Ventures and Boston Consulting Group.
The special purpose acquisition company (SPAC) is affiliated with Victory Park Capital according to the Bloomberg report. Founded in 2020, and it’s CEO is John Martin.