Summary by Moomoo AI
Intercontinental Exchange, Inc. (ICE), a leading operator of global exchanges and clearing houses, has announced an amendment to its Schedule 13D filing with the U.S. Securities and Exchange Commission (SEC). The amendment, dated February 29, 2024, reports a significant ownership stake in Bakkt Holdings, Inc., a digital asset marketplace. ICE now beneficially owns 177,555,807 shares, representing 56.6% of Bakkt Holdings' common stock. However, due to a voting agreement, ICE's voting power is limited to 30% as long as it and its affiliates own 50% or more of the total voting power of Bakkt Holdings. The amendment also details the acquisition of securities at the Initial Closing, which was funded by the working capital of ICE and its affiliates. This move by ICE reflects its continued investment in the digital asset space and its strategic relationship with Bakkt Holdings.