FalconX to acquire ETF manager 21Shares: WSJ
Crypto Briefing
Crypto prime brokerage FalconX is acquiring crypto ETF issuer 21Shares to expand its service offerings.Summary
FalconX, a digital assets prime brokerage offering market making and liquidity services to institutions, is set to acquire 21Shares, an issuer of crypto-focused exchange-traded products (ETPs), according to the Wall Street Journal. This acquisition is expected to allow FalconX to expand into derivatives and structured products, signaling further consolidation within the digital assets sector. The terms of the deal, which will be financed through cash and equity, have not been disclosed. 21Shares recently launched an ETP for an AI-related token in the European market, while FalconX has been enhancing its market-making services through a liquidity alliance with a blockchain network.
(Source：Crypto Briefing)