New Bakkt and ErisX Employees Onboard to Prepare for New Institutional Crypto Investments
Bakkt and ErisX Prepare for New Institutional Crypto Investors by OnBoarding New Employees
According to a new report from The Block, it seems that both Bakkt and ErisX are getting their teams ready to take on the institutional investments coming to Wall Street. Bakkt comes from the Intercontinental Exchange, while ErisX is from a firm based in Chicago. Bakkt had announced back in August that they would be launching a market that involved physical Bitcoin futures, though ErisX is planning for launch of a basic cryptocurrency platform in the middle of 2019.Though Bakkt was originally trying to launch in November, but they’ve moved their plans to December. Both companies have many Wall Street firms supporting them in the endeavor.
Right now, as these times approach, the two firms are working to get the manpower within their teams to be ready. Adam White has already been confirmed as the upcoming chief operating officer for Bakkt. Previously, White was a part of Coinbase’s institutional efforts, and he will be working until Bakkt’s CEO, Kelly Loeffler. They’ve also welcomed 10-year ICE executive Brian Cooper, and he’ll be working as the director of operations. Laura Edelman is a financial sales representative to help with the launch of the futures product.
At the moment, a source referenced to Jeff Sprecher, the husband of Loeffler, to discuss the potential of the market. The source at The Block Crypto said:
“Sprecher has a track record of overcoming the impossible so there is hope.”
Along with these additions to Bakkt, ErisX announced three more members that will be added to the team. The new members include:
- Kelly Brown, from CME Group
- Will be the new Chief Commercial Officer
- Will be responsible for bringing in new participants in the marketplace
- Liz James, from State Street, Barclays, and Chase
- Will be the new Head of Clearing
- Will be responsible for building out the clearing house, reducing the risk of trading
- Michael Piracci, from ScotiaBank
- Will be the new Chief Compliance Officer
Most of the employees with ErisX have been sourced from Eris Exchange.