TMX Group, the operator of Canadian stock exchanges, is finalizing the acquisition of VettaFi, a major player in the exchange-traded fund (ETF) industry, including blockchain ETFs.
TMX Group, the operator of Canadian stock exchanges such as the Toronto Stock Exchange and the Montreal Exchange, is finalizing the acquisition of VettaFi, a major player in the exchange-traded fund (ETF) industry, including blockchain ETFs.
The firm officially 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. The new deal brings the total amount of the acquisition to $1.03 billion, which includes investments TMX Group made in VettaFi in the first half of 2023 for around 22% of the common units, the announcement notes.
"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," TMX Group CEO John McKenzie noted. He added that TMX had previously worked with VettaFi, and their collaboration had brought a "powerful combination and a tremendous culture fit."
VettaFi was founded in May 2022 when the teams from ETF Trends, ETF Database, Alerian and S-Network Global Indexes merged to form one joint company. VettaFi provides a comprehensive suite of global indices and ETF services, including ETF trends and analytics, a global ETF database and other tools.
Apart from traditional finance ETFs, VettaFi lists blockchain and cryptocurrency-themed ETFs, including the VanEck Digital Transformation ETF (DAPP), which has surged nearly 207% year to date.
This is a developing story, and further information will be added as it becomes available.
