FalconX, a crypto-trading firm, agreed to acquire 21shares, one of the largest managers of exchange-traded funds that invest in digital assets. The combined company will develop crypto funds centered on derivatives and structured products, executives of the companies said in an interview. Terms of the transaction, which was financed through a mix of cash and equity, weren’t disclosed.
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Crypto trading firm FalconX to acquire ETF manager 21shares
Bitcoin flows are now happening through what we call traditional wrappers, and that’s a fundamental shift in market structure,” said Yarlagadda, adding that the combined business will be able to bring products to market faster.
