Institutions move market data on‑chain via Pyth

Pyth Network said on April 6 that six major financial institutions had started publishing proprietary market data through its new Data Marketplace. (pyth.network) The group includes Euronext, Exchange Data International, Fidelity Investments, OTC Markets Group, Singapore Exchange Foreign Exchange, and Tradeweb, according to Pyth’s announcement and a related April 9 release reposted by Tradeweb. (pyth.network) (tradeweb.com) Pyth said the marketplace lets institutions publish and monetize datasets across blockchains, applications, and financial firms while keeping control over access, attribution, and pricing. Pyth’s marketplace page says the service distributes data across more than 100 blockchains. (tradeweb.com) (pyth.network) The data is not all the same. Pyth said launch datasets include spot foreign exchange, precious metals, crude swaps, and reference data for equities, exchange-traded funds, fixed income, and derivatives. (tradeweb.com) Euronext disclosed on April 10 that it is sending institutional spot foreign exchange, non-deliverable forward, and precious-metals pricing into Pyth Pro, Pyth’s subscription data product. Pyth said Euronext’s venue aggregates liquidity from banks, hedge funds, and proprietary trading firms. (pyth.network) Tradeweb said on Pyth’s marketplace page that it is publishing intraday indicative net asset values, or iNAVs, for exchange-traded funds. Singapore Exchange Foreign Exchange said it is contributing benchmark pricing data. (pyth.network) Pyth said more than 120 institutions already contribute data to its network and that its price feeds cover more than 3,000 markets. The company said those feeds have secured more than $3 trillion in cumulative trading volume. (pyth.network) The change is in distribution, not just in who supplies prices. Pyth said the new publishers had historically sold data through vendor networks and proprietary terminals, and that this is the first time some of that proprietary data has been made available through onchain infrastructure. (pyth.network 1) (pyth.network 2) That claim lands as onchain venues have been testing demand for round-the-clock trading in non-crypto markets. CoinDesk reported on March 10 that open interest on Hyperliquid’s permissionless HIP-3 futures market reached a record $1.2 billion, driven largely by tokenized oil and equity contracts. (coindesk.com) The Block reported a week later, on March 17, that Hyperliquid’s HIP-3 markets had climbed to $1.43 billion in open interest, with 24-hour trading in tokenized equities and commodities cited as a key driver. That does not prove Pyth caused the activity, but it does show traders are already using onchain products tied to traditional assets. (theblock.co) The companies involved are framing the move as an addition to existing channels, not a full replacement. Tradeweb said publishing ETF iNAVs through Pyth “complements existing distribution channels,” while Pyth is pitching the network as a new route for institutions that want direct delivery into blockchain-based markets. (pyth.network 1) (pyth.network 2)