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