NYSE Parent ICE Anticipates Over $20 Million Spend on Bakkt This Year
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, estimates it will spend more than $20 million this year in building Bakkt, its bitcoin futures trading and custody platform.
In an earnings call for Q4, 2018, on Feb. 7, Scott Hill, ICE’s chief financial officer, said the firm’s investment in Bakkt will result in $20 million to $25 million of its estimated expenses for the fiscal year 2019.