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FalconX to Acquire 21Shares in Push Into Crypto ETFs

The move positions the prime broker to issue crypto funds by tapping 21Shares’ established European ETP lineup.

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.