Blockworks Targets Institutional Data Dominance in Digital Asset Space

Blockworks is positioning itself to become the digital asset equivalent of Morningstar, seeking to provide the institutional-grade data and research tools currently lacking in the cryptocurrency market. Co-founder Jason Yanowitz stated that the company intends to use proceeds from a Series A extension round to acquire rivals and expand its data platform. The platform targets traders of on-chain assets, including cryptocurrencies and tokenized real-world assets. According to Yanowitz, the digital asset space currently lacks the robust infrastructure provided by traditional finance giants like FactSet, Moody's, and S&P Global Research, which creates a barrier to institutional adoption. The company's Series A extension round, co-led by ParaFi Capital and Reciprocal Ventures with support from Coinbase's venture arm, valued Blockworks at $192 million. While the exact amount raised was not disclosed, Yanowitz reported that annual recurring revenue grew by more than 500% last year, driven in part by the firm's events business and the Digital Assets Summit. This strategic expansion comes amid a shifting U.S. regulatory landscape. The 2024 approval of spot bitcoin and ether ETFs, combined with the 2025 passage of the Genius Act establishing a framework for stablecoins, has increased the demand for reliable data. Blockworks aims to resolve the 'trust problem' in crypto by providing the disclosures and analytics necessary for institutional investors to underwrite the asset class.