Bakkt, the cryptocurrency venture backed by Intercontinental Exchange, announced Monday the launch of its institutional custody business. In a blog post, the company said the Bakkt Warehouse, which until now stored the bitcoin tied to its futures product, would open its doors to clients looking to "safeguard their assets using Bakkt's enterprise-grade offering." Bakkt's custody ambitions have been well-documented, but approval from the New York Department of Financial Services (NYDFS) will allow the firm to officially launch the business. In August, The Block reported Bakkt would "soon open their doors to hedge funds, ... (full story)