This doesn't change one thing, except of course that the participants are known institutionalists and have access to their banker friends should they need the money in an event of a 'hack' or some other 'unforeseen circumstances.' After all they are just another platform out in the open though of course with an already established connections as opposed to their competitors, so yeah, that's about it. As for bitcoin's state currently, aren't the first exchanges already established the fact that bitcoin is another asset class and not Bakkt alone?
I agree with you in which ever ways they can't lose money rather they will gain from any situation, if there is full adoption of cryptocurrency they assets and investment will yield more profits. They are just institutions that have the ear of government and financial system that will allow them to avoid protocols to achieve they aim.