NYSE Parent Invests Billions Into Polymarket

Intercontinental Exchange (ICE), the parent company of the NYSE, is investing $2 billion into Polymarket, valuing the company at $9 billion. ICE, which has a $90 billion market cap was up ~2% on the news.

The deal marks one of the largest private investments ever made in a crypto-native platform… it also shows how much TradFi is jumping crypto companies on acquisitions and strategic investments. This time last year, investors were clamoring for Coinbase to acquire Polymarket while Robinhood (HOOD) was partnering with Kalshi. Overall, this is a huge deal. Read more about the deal here →

S&P Global is rolling out the Digital Markets 50 – a first of its kind hybrid benchmark made up of 15 tokens and 35 crypto-linked stocks – allowing investors access to both equities and digital assets in a single product. No constituent tops 5%, with quarterly rebalances and size floors ($300 million market cap for tokens, $100 million for equities). The only catch so far is that there is no reported stock ticker. Instead Dinari, who partnered with S&P Global on the index design, will create a token tracking the benchmark with plans for it to go live on its dShares platform by years-end. We assume it will also be available to trade eventually on Coinbase, Kraken, Robinhood, etc. who are all trying to grow their tokenized equities business. Read more →

Of the 121 million ETH tokens currently in existence, treasury companies and ETFs hold 12.5 million – more than 10% of the supply.

And this trend doesn’t look to be slowing down… especially when ETFs can now offer yield and treasury’s are sitting on billion dollar profits.

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