TMX Group Acquiring VettaFi in $1.03 Billion Deal
TMX Group, the operator of Canadian stock exchanges like the Toronto Stock Exchange and the Montreal Exchange, is finalizing its acquisition of VettaFi, a major player in the exchange-traded fund (ETF) industry, including blockchain ETFs.
The firm announced on Dec. 13 that it has agreed to acquire the remaining 78% of the common units of VettaFi for $848 million that it didn’t already own. This brings the total amount of the acquisition to $1.03 billion, including previous investments made by TMX Group in VettaFi.
“The acquisition of VettaFi will add a dynamic new component to our growing information business, with an exciting set of capabilities and a visionary, innovative team committed to client success,” says TMX Group CEO John McKenzie.
About VettaFi and Its Offerings
VettaFi was formed in May 2022 through the merger of teams from ETF Trends, ETF Database, Alerian, and S-Network Global Indexes. It provides a comprehensive suite of global indices and ETF services, including ETF trends and analytics, a global ETF database, and other tools.
In addition to traditional finance ETFs, VettaFi lists blockchain and cryptocurrency-themed ETFs like the VanEck Digital Transformation ETF (DAPP), which has seen a surge of nearly 207% year-to-date.
Hot Take: TMX Group Expands Into Blockchain ETFs With VettaFi Acquisition
TMX Group’s acquisition of VettaFi for $1.03 billion solidifies its position in the exchange-traded fund (ETF) industry, particularly in the realm of blockchain and cryptocurrency-themed ETFs. This move reflects TMX Group’s commitment to the growing demand for digital assets and its aim to provide innovative solutions to its clients.
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