S&P Global is making a direct infrastructure play in crypto by leading a $110 million round for Kaiko, the Paris-based market data firm. This is not just venture capital. It is an established financial-information company taking a stake in the data plumbing institutions use to price assets, build indices, and run market surveillance.
In this round, S&P Global is joined by BNP Paribas, Coinbase Ventures, and Nasdaq Ventures, along with several other financial backers. That capital is set to support Kaiko’s core market data business and expand data infrastructure for onchain capital markets.
As S&P Dow Jones Indices chief executive Cathy Clay put it, S&P Global is investing for the future as digital assets accelerate. S&P Dow Jones Indices and Kaiko also introduced co-branded S&P Kaiko Digital Asset Indices on September 1, 2026. The signal is clear: for established market-data giants, crypto data is becoming core infrastructure they want equity in.