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Bakkt Holdings, Inc. (NYSE: BKKT) announced its inclusion in the Russell 3000® Index, effective June 27, 2022, following the annual reconstitution. This addition signifies a notable achievement for Bakkt as it enhances its visibility among investors and institutional managers, with the Russell indexes being benchmarks for approximately $12 trillion in assets. Bakkt aims to drive growth in the digital economy by leveraging this inclusion to expand its market reach and connect with a broader customer base.
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Inclusion in the Russell 3000® Index enhances visibility among institutional investors.
Membership in the Russell 3000® Index provides potential automatic inclusion in relevant large-cap and small-cap indexes.
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ALPHARETTA, Ga.--(BUSINESS WIRE)--
Bakkt Holdings, Inc. (NYSE: BKKT), a digital asset platform that unlocks crypto and drives loyalty to create delightful, connected experiences for a broad range of clients, announced today it is set to join the broad-market Russell 3000® Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the U.S. market opens on June 27, 2022, according to a preliminary list of additions posted on June 3, 2022.
Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6, 2022, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
“Bakkt’s inclusion in the Russell 3000® Index marks a significant milestone as we advance our vision to connect the digital economy,” said Gavin Michael, Bakkt’s Chief Executive Officer. “As a newly public company, we are pleased to be part of the Russell indexes, which will assist in continuing to expand our reach and support greater awareness of Bakkt within the investment community.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About Bakkt
Bakkt is a digital asset platform that unlocks crypto and drives loyalty to create delightful, connected experiences for a broad range of clients. Bakkt’s platform, available through the Bakkt App and to partners, amplifies consumer spending and bolsters loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem. Launched in 2018, Bakkt is headquartered in Alpharetta, GA. For more information, visit: https://www.bakkt.com/ | Twitter @Bakkt | LinkedIn https://www.linkedin.com/company/bakkt/
