Goldman Sachs leads $15M investment round for Coin Metrics

The investment firm is reportedly preparing to make cryptocurrencies available to its clients in the second quarter of 2021.

Blockchain analytics firm Coin Metrics has raised $15 million in a funding found led by financial giant Goldman Sachs.

In an announcement today, Coin Metrics said Goldman Sachs, Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital, Collab+Currency and others had contributed $15 million to the analytics firm to “accelerate the company’s global expansion” as well as reach more places in the crypto market. Coin Metrics co-founder Nic Carter called the funding a “huge validation” for the firm as a provider of crypto data for institutions.

“Data is critical for the mainstream adoption of cryptoassets by traditional investors and financial services players,” said Goldman Sachs Global Head of Digital Assets Mathew McDermott, who will also be joining Coin Metrics’ board of directors.

Goldman Sachs is continuing to seemingly warm to more companies and financials innovations of the crypto space this year. Last week, the firm identified 19 stocks from crypto and blockchain firms that had outperformed the S&P500 in the year to date. The financial giant is also reportedly preparing to make Bitcoin (BTC) and other cryptocurrencies available to its clients in the second quarter of 2021.