The most trusted name in crypto data is joining forces with one of the most connected. With Coin Metrics under its wing, Talos appears to be making a strategic move to address crypto’s biggest institutional hurdle: unreliable, fragmented market intelligence.
On July 16, crypto trading infrastructure provider Talos announced plans to acquire Coin Metrics, the Boston-based blockchain analytics and market data firm known for supplying high-integrity metrics to financial institutions.
The acquisition will see Coin Metrics’ network data, risk models, and index products integrated directly into Talos’s existing trading and portfolio management systems—effectively merging data infrastructure with execution rails on a single platform. While terms weren’t disclosed, Fortune reported the deal is valued at over $100 million, making it the largest acquisition in Talos’s history.
“By bringing our platforms together, we’re creating a fully integrated, one-stop solution that benefits the clients of both firms. Institutions increasingly look to us to support the entire digital asset investment lifecycle, from trading and portfolio management to market data, on-chain analytics, and portfolio construction. Combining our teams and technologies delivers a uniquely powerful platform, making our offering significantly stronger for our clients.” Anton Katz, CEO and Co-Founder of Talos, said.
The data play that could reshape institutional crypto
For institutions, crypto’s biggest roadblock might not be volatility but visibility. Traditional asset managers operate in markets where every trade is backed by decades of standardized data, auditable flows, and transparent pricing. Crypto, by contrast, remains a patchwork of fragmented exchanges, opaque on-chain activity, and inconsistent metrics.
That’s why Talos’s acquisition of Coin Metrics appears to be an attempt to rebuild crypto’s infrastructure with institutional-grade clarity. By bringing market structure and market intelligence under one roof, Talos is betting that institutional investors will gain access to a unified platform capable of managing the entire asset lifecycle, from strategy modeling to post-trade reconciliation.
The real test isn’t whether Talos can integrate Coin Metrics’ technology; it’s whether institutions will treat the combined platform as crypto’s answer to the Bloomberg Terminal.
