Bakkt, a digital asset marketplace founded by the Intercontinental Exchange, is becoming a public traded company through a merger with the SPAC VPC Impact Acquisition Holdings. Jeffrey Sprecher, Intercontinental Exchange chairman and CEO, and Bakkt CEO Gavin Michael joined "Squawk on the Street" on Monday to discuss. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi

Intercontinental Exchange--owned Bakkt said on Monday it has agreed to go public through a merger with blank-check firm VPC Impact Acquisition Holdings, giving the cryptocurrency platform an enterprise value of $2.1 billion.

The deal is expected to provide Bakkt, founded by outgoing Georgia Senator Kelly Loeffler and backed by Microsoft and Boston Consulting Group, with $207 million in cash and $325 million from other investors, including $50 million from ICE.

The rush to go public comes as the demand for Bitcoin and other digital tokens from retail investors rise as they look for quick gains in a world of ultra-low yields and negative interest rates.

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