While these delays may engender impatience on the part of bitcoin holders who had hoped a new institutional-grade product could relieve some of the pain of crypto winter, today’s fundraising announcement leans heavily on a message of patience. Noting that the Bakkt team has been built from veterans of other new and nascent financial markets, Loeffler wrote, “The path to developing new markets is rarely linear: progress tends to modulate between innovation, dismissal, reinvention and, finally, acceptance.”

https://www.coindesk.com/182-million-ice-exchanges-bitcoin-startup-bakkt-announces-massive-fundraise