Overview
- FalconX said Wednesday it will buy Zurich-based 21Shares to expand from brokerage into fund issuance.
- Financial terms were not disclosed by the companies.
- 21Shares is a leading crypto ETP provider in Europe, recently reaching 50 listed products and managing over $11 billion in assets.
- FalconX CEO Raghu Yarlagadda said regulated crypto ETPs are drawing investors from traditional markets.
- FalconX was valued at $8 billion in 2022 and reports more than $2 trillion in trading volume across over 2,000 institutional clients.