ETF manager 21Shares to merge with crypto broker firm FalconX in undisclosed deal
Crypto trading broker FalconX is set to acquire asset manager 21Shares, as reported by the Wall Street Journal on Wednesday. The deal will see 21Shares merge with FalconX, paving the way for product expansion.
FalconX acquires 21Shares to expand product suite
The deal, whose details remain undisclosed, will allow FalconX to expand its product line in the industry beyond market-making services and liquidity provision, into crypto exchange-traded funds (ETFs).
Executives of both firms said that the merger will focus on developing crypto funds based on derivatives and structured products.
21Shares is one of the most prominent providers of crypto Exchange Traded Products (ETPs), with over 50 listed offerings managing over $11 billion in…
