Bakkt Delists Cryptos – Which Are Facing the Axe?

Bakkt Delists Cryptos – Which Are Facing the Axe?

Bakkt Delists Cryptos

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In a move that has sent shockwaves through the cryptocurrency market, Bakkt, a leading digital asset platform catering to institutional investors, has announced the delisting of several cryptocurrencies from its trading platform. Bakkt, a subsidiary of Intercontinental Exchange (ICE), was launched in 2018 with the aim of providing a regulated and secure ecosystem for institutional investors to trade digital assets. The delisting decision is expected to have far-reaching implications for the affected cryptocurrencies and the broader crypto market. In this article, we delve into the details of Bakkt’s delisting and explore which cryptocurrencies are facing the axe.

Bakkt’s Decision to Delist Cryptocurrencies:

The decision to delist certain cryptocurrencies from the Bakkt platform comes as a surprise to many industry observers. Bakkt had initially positioned itself as a bridge between the traditional financial world and the emerging cryptocurrency market, offering institutional investors a secure and compliant platform for trading digital assets. The delisting move raises questions about the platform’s strategic direction and its evaluation of the cryptocurrencies it supports.

Reasons for Delisting:

While Bakkt has not provided detailed explanations for the delisting, it is believed that the decision was driven by various factors, including regulatory concerns, lack of liquidity, security issues, and poor market performance. Regulatory pressures have been mounting on digital asset platforms, with authorities scrutinizing the industry’s compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations. Bakkt may have deemed it necessary to remove certain cryptocurrencies to ensure compliance and mitigate regulatory risks.

Lack of liquidity is another critical factor that may have influenced the delisting decision. Cryptocurrencies with low trading volumes and liquidity pose challenges for institutional investors seeking to execute large trades. By eliminating low-liquidity assets, Bakkt may be aiming to streamline its platform and focus on assets that generate significant trading activity.

Security concerns also play a vital role in Bakkt’s decision-making process. The platform has emphasized its commitment to providing a secure trading environment, and delisting cryptocurrencies with potential vulnerabilities could be a proactive step to safeguard investor funds and maintain the platform’s reputation.

Lastly, poor market performance could have contributed to the delisting. Cryptocurrencies that have failed to gain traction or deliver on their promises may no longer be seen as viable investment options by Bakkt. In such cases, removing these assets can help the platform maintain its credibility and avoid association with underperforming or risky digital assets.

Cryptocurrencies Facing the Axe:

While Bakkt has not officially released the full list of cryptocurrencies being delisted, industry sources and insiders have provided some insights into the affected assets. It is important to note that the following list represents the current information available and may be subject to change:

  1. Ripple (XRP): Ripple, the digital payment protocol, has faced significant regulatory challenges in recent years. Bakkt’s decision to delist XRP aligns with the concerns surrounding the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). The uncertain regulatory status of XRP has likely led Bakkt to remove it from its platform.
  2. Bitcoin SV (BSV): Bitcoin SV, a contentious fork of Bitcoin Cash (BCH), has been marred by controversies since its inception. Delisting BSV may be attributed to its limited adoption, lack of community consensus, and contentious leadership.
  3. Stellar (XLM): Stellar, a blockchain-based platform designed for cross-border payments, has struggled to gain significant traction in the highly competitive market. Bakkt’s delisting of XLM suggests that the platform may be reevaluating its support for assets with limited user adoption.


The delisting of several cryptocurrencies by Bakkt has significant implications for the affected digital assets and the broader crypto market. While the exact reasons behind the delisting have not been explicitly stated, regulatory concerns, lack of liquidity, security issues, and poor market performance are likely contributing factors.

The decision underscores the platform’s commitment to compliance, security, and maintaining a streamlined trading environment for institutional investors. As for the specific cryptocurrencies facing the axe, Ripple (XRP), Bitcoin SV (BSV), Stellar (XLM), and Cardano (ADA) are among the speculated assets. However, it is essential to note that the final list may be subject to change as more information becomes available. The delisting move serves as a reminder of the evolving nature of the crypto industry and the importance of adaptability and risk assessment for both platforms and investors.

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