FalconX to acquire 21Shares.

FalconX, a US-based institutional digital asset prime brokerage firm, agreed to acquire 21Shares, a Swiss provider of cryptocurrency exchange-traded products. Financial terms were not disclosed. "21shares has built one of the most trusted and innovative product platforms in digital assets. We're witnessing a powerful convergence between digital assets and traditional financial markets, as crypto ETPs open new channels for investor participation through regulated, familiar structures. FalconX has built the institutional backbone for trading, derivatives, and credit, and extending that infrastructure into listed markets through 21Shares is a natural next step toward strengthening market efficiency. For FalconX, this is a deliberate, long-term investment in building durable enterprise value across market cycles," Raghu Yarlagadda, FalconX CEO.