Entering text into the input field will update the search result below

Baakt Crypto Exchange Rumored To Merge With Victory Park Capital SPAC

Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.


  • Bakkt in talks to go public via the VPC SPAC.
  • New entity valued over 2 Billion.
  • Bakkt previously raised $482.5 Million.

Shares of Victory Park Capital's Impact Acquisition Holdings (VIH), a SPAC (blank-check company), have soared after news that VPC has been negotiating a merger with the cryptocurrency exchange Bakkt.

This could be the first of many crypto companies to come public in 2021. I actually predicted this on a recent blog post.

According to Bloomberg, The merger between the two companies will value the new entity at more than $2 billion. An announcement is expected as early as next week.

In September, Bakkt launched its first regulated Bitcoin futures exchange. It went on to launch options for Bitcoin futures in October.

The SPAC is affiliated with Victory Park Capital. SPACs are quite hot at the moment as a way to bring companies public.

Galaxy Digital, (OTCPK:BRPHF) a company I often write about here on Average Joe Crypto, was an early investor in Bakkt.

According to April 26, 2019 filings by the company. Galaxy Digital made a 4th quarter investment (Series A) into Bakkt. From the filing - Bakkt Holdings, LLC, a company which is building an open, seamless global network to enable customers and institutions to buy, sell, store and spend digital assets ($5.0 million)

Bakkt is listed as a “Unicorn” on the Crunchbase website. The total A round 182.5 million from 14 different investors. Bakkt has raised a total of $482.5M in funding over 2 rounds. Their latest funding was raised on Mar 16, 2020 from a Series B round.

I am not a professional and this is not advice. Do your own research.

Analyst's Disclosure: I am/we are long VIH, BRPHF.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.