Crypto market-data provider Kaiko expanded its latest round to $110M in a strategic investment led by S&P Global, a sign of how far traditional finance is leaning into round-the-clock onchain markets.

The round drew a heavyweight backer list alongside S&P Global: DRW, Susquehanna, Royal Bank of Canada, Nasdaq, BNP Paribas, Broadridge, Coinbase Ventures and Stellar. Kaiko, founded in Paris and now serving 200+ institutional clients from offices in New York, London and Singapore, supplies crypto market data, analytics and indices. The raise follows the September 1 launch of the co-branded S&P Kaiko Digital Asset Indices, a 4,000-plus index suite built for asset managers seeking structured exposure to digital assets, with Kaiko providing the data, calculations and market connectivity.

Kaiko previously raised $53M in a 2022 Series B led by Eight Roads. Backing from the company behind the S&P 500, which roughly $10T in assets track, signals that institutional demand for reliable crypto data is accelerating.

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