Tuesday, November 30, 2021

Bakkt Holdings announced that the firm would soon let customers buy, sell, and store ethereum.

The Takeaway:

Bakkt Holdings announced that the firm would soon let customers buy, sell, and store ethereum after offering bitcoin-only since the company's launch.

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Bakkt Holdings has announced the company will “soon” offer ethereum in addition to offering bitcoin. The digital asset manager listed on the New York Stock Exchange (NYSE), as a subsidiary of Intercontinental Exchange (ICE), started offering its products three years ago in August 2018. Bakkt explained on Friday that customers and the firm’s partners would soon have the ability to buy, sell, and hold ether.

 

Adding ethereum follows the company’s recent partnership with Google. 

Adding ethereum follows the digital manager’s recent partnership with Google “to introduce digital assets to millions of consumers.” Furthermore, the firm went public in mid-October after completing a merger with VPC Impact Acquisition Holdings. BKKT shares are swapping for $32.61, and the company’s market valuation was $838.82 million on November 5. The latest offering will also give institutional clients the ability to leverage the Bakkt Warehouse for custody of ethereum.

“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,” Bakkt CEO Gavin Michael said in a statement on Friday.

 

Ethereum reached an all-time price high at $4,674 this month. 

Ethereum, the second-largest cryptocurrency with market capitalization, tapped an all-time price high at $4,674 on November 3. Ethereum is the second-largest market by capitalization, with $530 billion on Friday and 18.7% of the $2.8 trillion crypto economy. Over the last 12 months, ethereum has gained 976% and 24% during the course of the past month. Bakkt’s announcement did not disclose the launch date of when it would offer ethereum services.

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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