Crypto prime brokerage FalconX announced its acquisition of 21shares, a global leader in digital asset Exchange Traded Products (ETPs), in one of the most significant transactions in the ETP industry this year. The deal brings together institutional trading infrastructure and regulated investment products, giving investors a simpler, more familiar way to access cryptocurrency.
The acquisition unites FalconX’s institutional-grade trading infrastructure with 21Shares’ expertise in product development and distribution. Together, the two companies plan to introduce a new generation of regulated investment products designed to meet growing institutional and retail demand for digital asset exposure.
Two Market Leaders Unite to Expand Digital Asset Access
Founded in 2018 by Hany Rashwan and Ophelia Snyder, 21Shares has grown into a global leader in crypto ETPs, managing over $11 billion in assets across 55 listed products as of September 2025. The company built its reputation on proprietary technology and a deep network of exchange partners, allowing it to bring new crypto products to market efficiently.
FalconX, co-founded by Raghu Yarlagadda, has facilitated over $2 trillion in trading volume across a client base of over 2,000 institutions. Its infrastructure supports trading, derivatives, and credit solutions designed for professional investors.
“21shares has built one of the most trusted and innovative product platforms in digital assets,” said Yarlagadda in the press release. He added that extending FalconX’s institutional infrastructure into listed markets through 21Shares is a natural step toward improving market access and efficiency.
A New Chapter for 21Shares Under FalconX Leadership
Under the terms of the agreement, 21Shares will remain independently managed within the FalconX group. CEO Russell Barlow will continue to lead 21Shares, maintaining its existing product structures and investment objectives. Co-founders Rashwan and Snyder expressed confidence that FalconX’s global platform will accelerate the next phase of 21Shares’ expansion.
Why Does It Matter?
The transaction highlights how investing in cryptocurrency is maturing into the regulated financial mainstream. By merging FalconX’s institutional infrastructure with 21Shares’ retail distribution and product expertise, the combined group aims to provide transparent, exchange-traded access to digital assets for investors across markets.
This deal follows FalconX’s integration of Arbelos Markets and its majority stake in Monarq Asset Management earlier in 2025, part of a broader effort to strengthen its trading and asset management network worldwide. As more institutions seek structured exposure to crypto assets, FalconX’s move positions it at the center of this transformation in global finance.
