Digital asset prime broker FalconX agreed to acquire crypto asset manager 21Shares, the Wall Street Journal reported on Wednesday.
The deal, the terms of which were not disclosed, will allow FalconX to expand beyond market making and liquidity services to issue crypto exchange-traded funds (ETFs), a particularly widespread area of institutional cryptocurrency adoption.
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Zurich, Switzerland-based 21Shares is one of the most prominent providers of crypto exchange-traded products (ETPs), having listed them in Europe long before they became available in the US
The firm reached the milestone of listing 50 ETPs in Europe last month.
Neither company immediately responded to CoinDesk’s request for comment.
