Coinbase Acquires Skew for Real-time Analytics
As institutional interest and adoption of digital assets heats up, firms are looking to beef up their offerings with real-time data services (and justify their management fees).
Source: Nasdaq
key takeaways
- Skew serves more than 100 hedge funds, trading firms, banks and exchanges
- The acquisition will allow Coinbase to enhance its prime offering for institutions, by letting customers make more informed trading decisions
Coinbase said Friday that it will acquire Skew, a provider of real-time analytics for crypto derivatives, for an undisclosed sum. The deal is expected to close “in the coming month.”
The acquisition will allow Coinbase to enhance its prime offering for institutions, by letting customers make more informed trading decisions.
“Access to high quality data is essential for institutions assessing investments in crypto assets,” Greg Tusar,, Coinbase’s vice president of institutional product, said in a blog post Friday. “With Skew, we’ll arm professional traders with dynamic, aggregated market data, presented in a highly actionable format, all within our market leading prime brokerage.”
Demand for data
As institutional interest and adoption of digital assets heats up, firms are looking to beef up their offerings with real-time data services (and justify their management fees). M&A is one route. Earlier this year the crypto asset manager NYDIG acquired analytics company Digital Assets Data. But the number of reliable crypto data providers is small.
Last month, billionaire investor George Soros’ fund backed the digital asset data provider Lukka in a $53 million Series D fundraise. State Street led its Series C raise in December. And yesterday Fidelity launched Sherlock, a digital assets analytics solution geared towards fund managers and other institutional investors.
Skew serves more than 100 hedge funds, trading firms, banks and exchanges, including One River Asset Management, Susquehanna International Group and Galaxy Digital. Coinbase has been its client since the launch of its analytics platform in 2018.
Coinbase serves more than 7,000 financial institutions and holds $122 billion in assets from them, which represents more than half of the $223 billion total assets on its platform.
