In brief
- FalconX has agreed to acquire 21Shares, one of the largest crypto exchange-traded product providers, though terms of the deal remain undisclosed.
- The companies said the deal will combine their infrastructure and product capabilities across the U.S., Europe, and Asia.
- 21Shares will remain independently managed under FalconX, with CEO Russell Barlow continuing in his role.
FalconX said Wednesday it agreed to acquire Swiss crypto exchange-traded product issuer 21Shares, bringing one of the sector’s largest asset managers under its institutional brokerage platform.
The companies said the acquisition will combine FalconX’s trading and prime brokerage infrastructure with 21Shares’ exchange-traded product platform spanning Europe and the United States. The Swiss issuer already manages over $11 billion in assets across 55 listed crypto products, while FalconX has facilitated over $2 trillion in trading volume for more than 2,000 institutional clients.
The deal arrives as the crypto industry witnesses “a powerful convergence between digital assets and traditional financial markets,” Raghu Yarlagadda, CEO of FalconX, wrote in a statement shared with Decrypt.
Details of the deal were shared with Decrypt<
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Author: Vince Dioquino
