Digital asset prime broker FalconX has agreed to acquire crypto asset management company 21Shares, The Wall Street Journal reported on Wednesday.
Terms of the deal were not disclosed, but it will allow FalconX to expand beyond market-making and liquidity services into the issuance of crypto exchange-traded funds (ETFs), an area that is particularly popular for institutional adoption of cryptocurrencies.
Zurich, Switzerland-based 21Shares is one of the most prominent providers of crypto exchange traded products (ETPs), listing them in Europe long before they were available in the United States.
Last month, the company achieved a milestone by listing 50 ETPs in Europe.
The companies did not immediately respond to CoinDesk’s requests for comment.
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