S&P Global Sees Bright Future with Investment in Cryptocurrency Data Firm

S&P Global's stock rose nearly 2% on Monday following an announcement of a new strategic investment in Kaiko, a company specializing in data and information about digital financial assets. S&P Global did not disclose the size of its investment but confirmed it had joined other companies such as Coinbase Ventures and Nasdaq Ventures in funding Kaiko's Series B round, which brought the total to $110 million.

S&P Global has a significant business partnership with Kaiko and collaborates on co-branded market gauges, the S&P Kaiko Digital Asset Indices. The investment underscores S&P Global's conviction in digital assets, according to its CEO Cathy Clay.