Finance
What to know:
- Digital asset prime broker FalconX agreed to acquire crypto asset manager 21Shares, the Wall Street Journal reported. (Spoiler: They’ll probably sell it back in 5 years.) 😂
- The deal, terms of which remain undisclosed, will allow FalconX to expand beyond market making and liquidity services into issuing crypto ETFs. (Because who doesn’t want a “crypto ETF” that’s 90% hype and 10% actual value?) 🤡
Digital asset prime broker FalconX agreed to acquire crypto asset manager 21Shares, the Wall Street Journal reported on Wednesday. (Note: “Reported” might mean “whispered in a dark alley.”)
The deal, terms of which were not disclosed, will allow FalconX to expand beyond market making and liquidity services into issuing crypto exchange-traded funds (ETFs), a particularly prevalent area of institutional adoption of cryptocurrency. (Institutional adoption? More like “institutional confusion.”)
Zurich, Switzerland-based 21Shares is one of the most prominent providers of crypto exchange-traded products (ETPs), having listed them in Europe long before they became available in the U.S. (Because nothing says “innovation” like doing something 10 years after everyone else.) 🇨🇭
The firm reached the milestone of listing 50 ETPs in Europe last month. (50? That’s just 10 more than a toddler’s “art collection.”)
Neither of the firms immediately responded to CoinDesk’s request for comment. (Ah, the classic “we’re too busy laughing at the chaos” tactic.) 🤫
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2025-10-22 13:39