Intercontinental Exchange (ICE), the parent company of Bakkt, the soon-to-be launched cryptocurrency trading platform offering physically settled Bitcoin futures, reports strong Q4 net revenues of over $1.3 billion.
ICE’s earnings are up 14% year over year, and their CEO, Jeff Sprecher, expects the launch of Bakkt to increase their revenue in a very big way.
Continued Investment into Bakkt
ICE’s Chief Financial Officer, Scott Hill, recently spoke at the company’s Q4 earnings conference call on Thursday, where he said that ICE’s strong revenue will go towards supporting key strategic initiatives, including fixed income, mortgages, and the launch of Bakkt.
Adding to this, Hill had this to say about their continued investment in Bakkt:
“Our investment in Bakkt will generate $20 million to $25 million of expense based upon the run rate in the first quarter. We will update you on progress at Bakkt and the level of investment as we move through the year. We delivered…