The acquisition marks FalconX’s third major deal of 2025, following its purchases of crypto derivatives platform Arbelos Markets and a majority stake in Monarq.
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Crypto prime broker FalconX has agreed to acquire 21Shares, the world’s largest issuer of crypto exchange-traded products (ETPs).
By joining forces, FalconX and 21Shares aim to develop new regulated digital asset investment products that appeal to both institutional and retail investors, the company said in an announcement shared with Cointelegraph.
“21Shares has built one of the most trusted and innovative product platforms in digital assets,” said Raghu Yarlagadda, CEO of FalconX. “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 brings its $2 trillion trading infrastructure and over 2,000 institutional clients to the table, while 21Shares contributes expertise in ETP design and global distribution. The size of the deal was not disclosed.
Related:
21Shares to operate independently under FalconX
21Shares’ leadership will remain in place following the acquisition. No immediate changes are planned to existing 21Shares ETPs or ETFs in Europe or the US.
CEO Russell Barlow said the deal with FalconX would allow the firm to “move faster” and expand its reach. “Together, we’ll pioneer solutions that will meet the evolving needs of digital asset investors worldwide,” he said.
Founded in 2018 by Hany Rashwan and Ophelia Snyder, 21Shares has grown into a dominant force in crypto ETPs, managing over $11 billion in assets across 55 listed products as of September 2025.
Related:
FalconX’s third deal this year
The deal marks FalconX’s third major transaction in 2025. In January, the company for an undisclosed amount.
In June, the broker in Monarq Asset Management’s parent company.
FalconX has also joined Crypto.com, Galaxy and Wintermute , a new settlement platform designed for digital asset and financial institutions. Developed with Arca Labs, Tassat Group and tZERO, Lynq aims to address regulatory and counterparty risk challenges as institutional adoption grows.
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