Bakkt Announces Ethereum Support

November 6, 2021

NYSE listed digital asset manager, Bakkt has announced to soon be offering Ethereum (ETH) alongside Bitcoin. The subsidiary of Intercontinental Exchange (ICE), started its product offerings three years ago in August 2018. On Friday, Bakkt revealed that its customers and partners will soon have the ability to buy, sell, and hold Ethereum.

Bakkt recentlywent public in mid-October after completing a merger with a firm called VPC Impact Acquisition Holdings. The company’s market valuation is $838.82 million on November 5. Bakkt had also just partnered up with Google “to introduce digital assets to millions of consumers” and Mastercard to drive mainstream adoption of crypto.

Bakkt CEO Gavin Michael said on Friday:

“Bakkt users have already enjoyed the app’s capabilities to leverage bitcoin and we are confident that our addition of Ethereum will be a complement to our growing ecosystem of partners and assets”

Ethereum is going strong, it recently made an all-time price high at $4,674 on November 3 and is the second-largest market by capitalization with over $500 billion, according to CoinMarketCap.

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Author: Peter Siu

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