Encyclopedia · Organization
Bakkt
Digital assets and payments infrastructure business founded inside Intercontinental Exchange in 2018.
Organization facts
- Public company
- Bakkt, Inc. (formerly Bakkt Holdings, Inc.)
- Founded
- 2018 within Intercontinental Exchange
- Founding CEO
- Kelly Loeffler, 2018–December 2019
- Original parent
- Intercontinental Exchange Holdings, Inc.
- Public transaction
- Business combination in October 2021
- 2026 change
- Renamed Bakkt, Inc. January 22, 2026
- Activities
- Digital-asset trading infrastructure; payments; stablecoin-related technology
Bakkt, Inc. is a publicly traded digital-asset technology business established by Intercontinental Exchange in 2018 to build cryptocurrency custody, exchange and payments infrastructure. Its original founding CEO was Kelly Loeffler, who left the company in December 2019 upon appointment to the U.S. Senate. Bakkt subsequently entered the public markets in October 2021 and reorganized again in 2026, making it important to keep original ICE ownership, later listed-company ownership and Loeffler's disclosed securities transactions separate. [1] [2]
Original 2018 ICE formation and founding leadership
Bakkt Holdings LLC and Bakkt LLC were formed July 31, 2018, and entered into member agreements in August that year. ICE and partners promoted a regulated institutional framework for bitcoin custody and contracts. Loeffler, formerly an ICE marketing and communications executive, became the business's founding chief executive. [1] [2]
The corporate history recorded in SEC filings identifies Intercontinental Exchange Holdings Inc. as the original majority owner, and ICE announced that new CEO Mike Blandina succeeded Loeffler effective December 20, 2019. Public descriptions of her as a current Bakkt CEO after this date would be incorrect. [1] [3]
Trading, custody, payments and business combination
The startup developed bitcoin-related institutional trading and settlement tools and explored payments infrastructure. Its early business model was distinct from a bank deposit account, cryptocurrency token issuer or an unregulated standalone exchange. Public securities filings describe its businesses and the relevant regulatory licenses by date. [2]
On October 15, 2021 Bakkt completed a merger/business combination that brought its holding-company shares into the public market. The original Bakkt LLC and its ICE parent equity were restructured. That date matters for interpreting ICE's shareholding and later individuals' investments; a claim that ICE owned a majority before that transaction is not automatically true afterward. [1]
2025–2026 ownership, technology and rebranding
Bakkt continued public trading after changes in its management and strategy. A January 2026 company filing documents that the corporation's name changed from Bakkt Holdings, Inc. to Bakkt, Inc., effective January 22, 2026; the action did not by itself alter stockholder rights. [4]
The company's 2025 annual SEC filing discusses a planned January 2026 acquisition of Distributed Technologies Research Global Ltd. (DTR), a cross-border stablecoin-payment technology company. That transaction was subject to shareholder and contractual conditions; the signing of an agreement should not be mistaken for evidence that it had closed on the announcement date. [5]
Its 2026 financial reports and shareholder disclosures should be used for current positions, rather than projecting its original 2018 ownership and personnel into the present. Neither Bakkt's corporate revenues nor the price of its listed shares is a measure of Loeffler's personal salary while at SBA. [5]
Kelly Loeffler investments and legal distinctions
Loeffler's 2025–2026 federal financial disclosures include a November 4, 2025 exchange of Bakkt Holdings Class A securities in a reported $5 million–$25 million range. The reporting category is a transaction range, not a publicly certified net gain; the asset may be held through a spouse's account or separately reported holdings. [6]
Loeffler's federal ethics agreement covered certain private company holdings, board resignations and conflicts arising from the continuing ICE employment of her husband Jeffrey Sprecher. The agreement does not name Bakkt executive management as an official responsibility of her SBA position, and she did not serve as company CEO after 2019. [6] [7]
Related dossiers
Follow Kelly Loeffler (founding chief executive), Jeffrey Sprecher (ICE founder), Intercontinental Exchange (original parent) and the separate public-company filings for continuing operations. These documented business links do not establish that a federal agency owned or controlled Bakkt. [1]
The wider political and finance context may be explored through Chapter 10 of The Story without modifying that prose.
Connections to The Story
Follow the source-verified links into the historical narrative.
References
- Bakkt 2021 SEC consolidated history and ICE original control
- SBA official Kelly Loeffler biography, founding Bakkt CEO 2018
- ICE December 2019 CEO replacement announcement
- Bakkt January 2026 SEC filed name change
- Bakkt 2025 SEC Form 10-K with 2026 DTR announced transaction
- ProPublica Kelly Loeffler disclosure transaction categories
- Kelly Loeffler OGE January 2025 federal ethics agreement
Research updated November 13, 2026. Historical contracts, corporate leadership, equity, reported transactions and federal roles are distinguished by date.