FalconX, a leading institutional digital asset prime brokerage, will acquire 21Shares, one of the largest managers of exchange-traded funds that invest in digital assets.
The organisations say the acquisition combines 21Shares’ strength in asset management innovation and distribution with FalconX’s institutional grade trading infrastructure, structuring expertise and risk management technology.
“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.”
The action builds on FalconX’s 2025 strategy to strengthen its global franchise across trading, asset management and market infrastructure.
“Our goal has been to make crypto investing available to everyone through industry-leading exchange-traded products,” said Russell Barlow, CEO of 21shares.
Following the transaction’s completion, 21Shares will operate as an independent entity within the FalconX group.
Barlow will remain at the helm of 21Shares, collaborating with FalconX’s leadership to drive a unified strategy for expanding the digital assets ecosystem, according to the firm.
Terms of the transaction, which was financed through a mix of cash and equity, weren’t disclosed, according to the Wall Street Journal.
