FalconX Completes Acquisition of 21Shares
FalconX, a digital-asset prime brokerage, has completed its acquisition of 21Shares. 21Shares is a leading issuer of crypto ETPs and ETFs. The acquisition was announced alongside the launch of a new leveraged Dogecoin ETF by 21Shares.
The new ETF offers investors twice the daily performance of Dogecoin, before fees and expenses. FalconX will allow 21Shares to operate independently after the acquisition.
FalconX CEO Raghu Yarlagadda said, “The combination of FalconX’s institutional trading and risk management platform with 21Shares’ leadership in exchange-traded products puts us in an even stronger position to accelerate innovation and broaden access to digital assets.”
21Shares’ Position and Management
As of September 2025, 21Shares managed over $11 billion across 55 listed products. Its crypto index ETFs provide access to Bitcoin, Ethereum, Solana, and Dogecoin. Despite the acquisition, 21Shares will remain independently managed.
CEO Russell Barlow confirmed he will continue leading the company. He added, “FalconX’s scale will allow us both to deliver greater offerings and services to our clients, while building on our shared values and crypto-native roots.”
FalconX is backed by investors including American Express Ventures, Lightspeed Venture Partners, and Tiger Global Management. This acquisition follows FalconX’s earlier purchases of Arbelos Markets and investment in Monarq Asset Management.
Significance of the Leveraged Dogecoin ETF
The new leveraged Dogecoin ETF expands 21Shares’ range of crypto investment products. Existing ETPs and ETFs will continue unchanged.
The FalconX and 21Shares partnership aims to speed up innovation and offer more choices for investors. They plan to combine institutional-grade trading tools with ETF expertise.
This collaboration intends to make digital asset investing more accessible worldwide. Both firms seek to serve retail and institutional investors with a broader set of options.
