Coinmetrics
Coin Metrics, now operating as a data division within Talos following an undisclosed acquisition, provides institutional-grade market data, on-chain analytics, reference rates, and indexes for digital assets.
Profile
Provides institutional-grade market data, on-chain analytics, reference rates, and indexes for digital assets via APIs and data feeds.
Coin Metrics, now operating as a data division within Talos following an undisclosed acquisition, provides institutional-grade market data, on-chain analytics, reference rates, and indexes for digital assets. Founded in 2017 by Tim Rice and Antoine Le Calvez, the company initially focused on on-chain metrics before expanding into market data and index products. Its product suite includes Market Data Feed, Market Data Pro, Atlas (a blockchain search engine), Network Data Pro, Prices, Indexes, the datonomy digital asset classification system, and Security Master.
The company targets institutional investors, asset managers, exchanges, and financial services firms that require reliable, auditable data for trading, risk management, and compliance. In 2026, Coin Metrics was integrated into Talos's platform, with Talos winning the BeInCrypto Institutional 100 Award for Best Market Intelligence & Data Platform in June 2026. Financially, Coin Metrics is not publicly reported separately, but its parent company Talos (backed by investors including Andreessen Horowitz and Goldman Sachs) has not disclosed standalone revenue.
The broader crypto data market faces headwinds: Coinbase, a major customer and partner, reported Q1 2026 revenue of $1.41 billion (down 21% QoQ) and a net loss of $394 million, with transaction revenue declining 23% in consumer spot trading. Coinbase also cut 500 jobs (14% of workforce) in May 2026, citing market conditions. Coin Metrics's reliance on the institutional crypto trading cycle means its performance is tied to volatile crypto market volumes and prices.
The company's key differentiators include its long-running on-chain data history (since 2017) and its reference rate methodology, which is used by several ETF issuers. However, competition from Messari, Glassnode, and Kaiko, combined with the ongoing consolidation in crypto data and trading infrastructure, creates margin pressure.
Who buys this
- Institutional asset managers and hedge funds trading digital assets
- Crypto exchanges and trading platforms needing reliable pricing and reference rates
- Financial services firms building crypto ETFs, derivatives, and structured products
- Risk management and compliance teams requiring auditable on-chain and market data
- Academic researchers and data scientists studying blockchain networks
Strengths and what to watch
Strengths
- Longest-running on-chain data history (since 2017) with coverage of hundreds of assets, providing a unique dataset for backtesting and research.
- Reference rate methodology used by multiple spot Bitcoin and Ethereum ETF issuers, giving it regulatory credibility and institutional trust.
- Integration with Talos's trading infrastructure creates a seamless workflow from data to execution, reducing friction for institutional clients.
Watch for
- Revenue and client concentration risk: heavily dependent on the institutional crypto trading cycle, which is volatile and tied to crypto market prices and volumes.
- Competitive pressure from Messari, Glassnode, and Kaiko, which are also expanding into institutional data and analytics, potentially compressing margins.
- Parent company Talos's financial health and strategic direction: Talos's undisclosed acquisition of Coin Metrics means its resources and priorities are not independently visible.
Recent moves
Key Information
- Industry
- Financial & Market Data
- Founded
- 2017
Frequently Asked Questions
What does Coinmetrics do?
Coinmetrics provides institutional-grade market data, on-chain analytics, reference rates, and indexes for digital assets. It serves asset managers, exchanges, and financial firms via APIs and data feeds, now operating as a data division within Talos after an undisclosed acquisition.
Who founded Coinmetrics and when?
Coinmetrics was founded in 2017 by Tim Rice and Antoine Le Calvez. The company initially focused on on-chain metrics before expanding into market data and index products, building a long-running dataset that now covers hundreds of digital assets.
What products does Coinmetrics offer?
Coinmetrics offers Market Data Feed, Market Data Pro, Atlas blockchain search engine, Network Data Pro, Prices, Indexes, the datonomy digital asset classification system, and Security Master. These tools support trading, risk management, and compliance for institutional clients.
How is Coinmetrics used for crypto ETFs?
Coinmetrics' reference rate methodology is used by several spot Bitcoin and Ethereum ETF issuers. This gives the company regulatory credibility and institutional trust, as its rates provide auditable pricing for ETF creation, redemption, and valuation.
What happened with the Coinmetrics acquisition by Talos?
Coinmetrics was acquired by Talos in an undisclosed deal and now operates as a data division within Talos. In June 2026, Talos won the BeInCrypto Institutional 100 Award for Best Market Intelligence & Data Platform, highlighting the integration's success.
Who are Coinmetrics' main competitors?
Coinmetrics competes with Messari, Glassnode, and Kaiko in the institutional crypto data space. These rivals are also expanding into data and analytics, creating margin pressure and driving consolidation in the crypto data and trading infrastructure market.
Sources
- www.talos.com — Coin Metrics product portfolio and integration with Talos platform
- www.cnbc.com — Coinbase Q1 2026 earnings: revenue $1.41B, net loss $394M, transaction revenue decline
- cryptojobslist.com — Coinbase layoff of 500 employees (14% of workforce) in May 2026
- www.tikr.com — Detailed breakdown of Coinbase Q1 2026 financials and strategic moves
- www.informationweek.com — Broader tech layoff context and AI pivot trends in 2025-2026