Key Takeaways
- FalconX, a crypto prime brokerage, is acquiring 21Shares, an issuer of crypto-focused exchange-traded products.
- The acquisition enables FalconX to gain ETF management capabilities, signaling further consolidation in the digital assets sector.
FalconX, a digital assets prime brokerage providing market making and liquidity services to institutional clients, is acquiring 21Shares, an issuer of exchange-traded products focused on crypto assets, according to WSJ.
The acquisition will allow FalconX to expand into derivatives and structured products. The terms of the deal, financed by cash and equity, remain undisclosed.
21Shares recently introduced an exchange-traded product for an AI-related token, expanding its offerings in the European market. FalconX has joined a liquidity alliance with a blockchain network, enhancing its market making services for digital assets.
Source: https://cryptobriefing.com/falconx-acquires-21shares-etf-crypto-deal/
