Bakkt’s Cryptocurrency Exchange is Coming, But Will Institutional Investors Follow?


By Greg Adams from Blokt

The Bakkt cryptocurrency trading platform is due to launch this November. Many are hoping that it will bring institutional investors to the market, but will this really happen?

Cryptocurrency investors are patiently waiting for the arrival of the Bakkt cryptocurrency exchange, with the hope that it will bring institutional investors, more retail participants, and maybe even Bitcoin availability in 401k accounts. Its launch is planned for November of this year, and it is backed by the trading titan Intercontinental Exchange (ICE), owners of the New York Stock Exchange (NYSE), so there’s good reason to be excited. ICE has also partnered with Microsoft, Starbucks, and Boston Consulting Group.

With the SEC’s recent denial of numerous Bitcoin ETFs, the hope is that Bakkt will introduce a product which is appealing to institutional investors who have so far avoided the cryptocurrency markets, due to worries of manipulation or the lack of trustworthy custody options.

Bakkt Wants Institutional Investors
Bakkt has been touted as a potential onramp for institutional money. The company themselves revealed in a tweet this week that it is “designed to serve as a scalable on-ramp for institutional, merchant, and consumer participation in digital assets by promoting greater efficiency, security, and utility.” But are these pledges enough to attract investors who have so far steered clear of the cryptocurrency markets? Many believe that some institutional investors have already quietly entered the cryptocurrency markets, but can the NYSE owners bring them in droves?

Read the rest of this article at Blokt!