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Oct. 18, 2021, 12:13 p.m. EDT

Crypto exchange Bakkt, owned by ICE, falls in trade debut on NYSE

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By Mark Decambre

Shares of Bakkt Holdings Inc. , the digital asset marketplace that was launched in 2018 by Intercontinental Exchange /zigman2/quotes/209108507/composite ICE +2.41% , fell on Monday in its first day trading, down around 2%. Its debut on the ICE-owned NYSE marks the consummation of its merger with special purpose acquisition corp, or SPAC, VPC Impact Acquisition Holdings , which it combined with in a deal with an enterprise value of about $2.1 billion. SPACs are companies that raise funds by going public and then acquire a business or businesses. VPC is backed by Chicago-based Victory Park Capital. Bakkt is headed Gavin Michael who was head of technology for Citigroup Inc.'s /zigman2/quotes/207741460/composite C +0.61% global consumer bank.

/zigman2/quotes/209108507/composite
US : U.S.: NYSE
$ 134.01
+3.15 +2.41%
Volume: 3.09M
Dec. 7, 2021 4:00p
P/E Ratio
24.77
Dividend Yield
0.99%
Market Cap
$73.73 billion
Rev. per Employee
$859,618
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/zigman2/quotes/207741460/composite
US : U.S.: NYSE
$ 62.90
+0.38 +0.61%
Volume: 28.30M
Dec. 7, 2021 4:02p
P/E Ratio
5.88
Dividend Yield
3.24%
Market Cap
$124.06 billion
Rev. per Employee
$423,538
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