Bakkt was founded in 2018 by Kelly Loeffler and Jeff Sprecher. The company has not officially endorsed a plan to participate in an IPO.
Bakkt’s website indicates the company provides services in the digital asset space ranging from the institution-focused custody solutions, futures market, and regulatory compliance to the consumer-oriented payments network. The company has raised nearly $500 million in Venture Capital funding from investors including SGH Capital, 11-11 Ventures, BSG Group, Galaxy Digital Holdings, Horizons Ventures, Multicoin Capital, and Pantera Capital. Per company press releases, Bakkt last raised $300 million in March 2020 at an undisclosed post-money valuation.