Hedge fund Two Sigma’s trading data system Venn is teaming up with Coin Metrics, a provider of intelligence to cryptocurrency investors, to help make crypto market infrastructure friendlier for institutions accustomed to traditional capital markets.
Venn’s suite of investment evaluation, due diligence and asset allocation workflows will be combined with Coin Metrics’ mix of reference data and indexes, calculated in USD and euros for over 475 assets, the companies said on Tuesday.
As crypto edges into the mainstream, financial institutions are fielding increasing demand to allocate a sliver of portfolios into digital assets, but lack the tools that make that a seamless and easy task. Venn, which last month partnered with Coinbase Institutional to help educate institutional investors, has been experiencing “incredible demand” from institutions and capital allocators, according to Marco Della Torre, CEO of Venn.
“Crypto is mainstream, and more and more folks are realizing they need to get smart,” Della Torre said in an interview. “But also that they need to have tools to perform, so the institutional grade workflows that they use, allocate their capital with crypto in mind.”