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Bakkt receives an estimate of 740 million dollars, but investors have questions, sources say

Anonymous sources reported that on March 21, The Block appeared on the Block cryptocurrency website about the institutional trading platform of the Bakkt Intercontinental Exchange, which received an estimated $ 740 million.

Bakkt, which has not yet launched any investment products and continues to liaise with regulators, can further increase its valuation if it attracts additional funds.

At the same time, sources said that investors still had questions about the risk-return ratio, given that Bakkt has not yet received official launch approval and will work on other conditions from traditional platforms.

“In terms of cash flow, Bakkt will not earn much, based on the commission offered by him for the contract, so they really need a lot,” said one of the sources of The Block

As reported, the US Commodity Futures Trading Commission (CFTC) continues to negotiate to smooth out the distortions in Bakkt's operations, which delayed its debut several times.

However, according to Commissioner Dan Berkovitsa, there is a strong will among lawmakers to ensure that the first Bakkt product — physically delivered Bitcoin futures (BTC) — enters the market.

Bakkt's giant preliminary estimate is due to the fact that the regulatory framework in the United States that surrounds cryptocurrency remains uncertain in all directions.

The fate of VanEck and SolidX for Exchange Funds (ETF) Bitcoin (BTC), filed and withdrawn several times, currently hangs in the balance, since public feedback seems to contradict this concept.

VanEck repeatedly tried to allay concerns about the origin of his proposal.

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Afroz Ahmad