Market News

FalconX Expands Crypto Horizons with 21Shares Acquisition

FalconX has made headlines with its recent acquisition of 21Shares, marking a significant move into the crypto ETFs market.

This strategic acquisition combines FalconX's premier brokerage infrastructure with 21Shares, the largest provider of crypto exchange-traded products (ETPs) globally.

FalconX, known for its deep liquidity and comprehensive offerings, has processed over $2 trillion in trading volume across its large institutional client base.

21Shares currently manages over $11 billion in assets across its 55 listed ETPs, which allow investors to gain exposure to cryptocurrencies without direct ownership.

This partnership aims to accelerate the development of tailored investment solutions to meet the increasing demand for regulated digital asset exposure.

Importantly, 21Shares will continue to operate independently under CEO Russell Barlow, ensuring the integrity of its existing products remains intact.

The collaboration between the two firms is poised to enhance asset management and product distribution capabilities significantly.

In a related note, the Bitcoin derivatives market is evolving, with options begining to rival futures in open interest.

On-chain analytics firm Glassnode reports that the open interest for options recently hit a new all-time high of over $55 billion, showing a shift towards volatility strategies.

As of now, Bitcoin is priced around $107,800, experiencing a dip of over 4% in the past 24 hours, reflecting the ongoing fluctuation in the market.