Bakkt Holdings Adds 4% On Partnering With Nexo For Bitcoin, Ethereum Custody

(RTTNews) - Shares of Bakkt Holdings, Inc. (BKKT) are rising more than 4% Wednesday morning after the digital asset platform announced partnership with digital assets institution Nexo, to securely store Bitcoin and Ethereum in the Bakkt Warehouse.

The Bakkt Warehouse comprises both online ("warm") and offline, air-gapped ("cold") digital asset storage.

"As we build upon our partnerships with businesses and expand our network of operations and revenue, secure custody continues to be a pillar of Bakkt's strategy, leveraging state-of-the-art physical and cyber security, institutional grade technology and governance, and backed by insurance," said Dan O'Prey, Chief Product Officer, Crypto at Bakkt.

BKKT is at $5.47 currently. It has traded in the range of $4.98- $50.80 in the last 52 weeks.