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