Bakkt Holdings, one of the most trusted and recognized digital asset management companies in the cryptocurrency market would let consumers handle Ethereum (ETH), the second-largest cryptocurrency in the world by market capitalization. The information was announced by Bakkt in an official press release on November 5.
Bakkt to Offer Ethereum for Clients
According to the official press release, Bakkt Holdings is now offering users and partners the ability to buy, sell and hold Ethereum. Interested users would be able to handle the second-largest virtual currency in the world through Bakkt.
As per the official press release, Bakkt will offer users more than half of the total market value of all cryptocurrencies.
The official press release reads as follows:
“At Bakkt, providing flexible opportunities for users to enjoy their digital assets is a top consideration, and adding Ethereum brings a popular and growing cryptocurrency to our roster.”
Institutional clients would also be able to get access to Ethereum. In order for those clients who do not want to think about custody, Bakkt s offering the Bakkt Warehouse custody of Ethereum.
It is worth taking into consideration that the custody of cryptocurrencies has always been an issue to small and large investors. The cryptocurrency market requires users to be responsible for the funds they handle, however, some investors prefer to give their custody to third party companies and institutions. Bakkt is one of those companies offering custody solutions to investors.
Ethereum is the second-largest cryptocurrency in the world and it powers the Ethereum blockchain network. This blockchain ecosystem allows users to deploy and execute smart contracts, something that is not currently possible on top of Bitcoin (BTC).
Over the last years, thousands of tokens and smart contracts have been launched using Ethereum as the main platform. Thanks to the new solution offered by Bakkt, it would be possible for users to buy, sell, spend and hold this virtual currency.
According to data provided by CoinGecko, Ethereum now has a price of $4,560 and a market valuation of $539 billion. In the last 7 days, Ethereum has moved higher by 5.6%. Users that want to get access to the virtual currency market can now do so not only with Bitcoin but also with Ethereum.
Additionally, these two virtual currencies have different growth cycles, which means that it could be a good way for investors to diversify their crypto portfolios without having to be worried about custody.