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New SPAC Goes Big on Bitcoin and Other Digital Assets

A company called Bakkt, which was started by
Intercontinental Exchange
(ticker: ICE), the owner of the New York Stock Exchange, announced on Monday that it planned to go public.
Bakkt, founded in 2018, initially made waves by launching a Bitcoin futures product. But the company appears most focused now on a digital app that allows people to trade and spend various kinds of digital assets from cryptocurrencies to loyalty points from businesses like
Starbucks
to videogame rewards.
Bakkt will go public through a special purpose acquisition company, or SPAC, which involves a shell company raising money to buy another company and take it public. Bakkt will merge with ....

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