FalconX Acquires 21Shares: A Major Step Towards Institutionalization of Crypto

FalconX, a leading institutional crypto-prime broker, has announced the acquisition of 21Shares, a prominent crypto asset manager specializing in exchange-traded funds (ETFs). The Wall Street Journal reports that the companies are expected to finalize the deal through a combination of cash and equity, though financial details remain undisclosed. This strategic move by FalconX aims to expand beyond traditional market-making and liquidity services into issuing its own crypto funds and structured products.