FalconX's acquisition of 21shares represents one of the most significant ETP industry transactions in recent years, combining institutional-grade infrastructure with leading digital asset product expertise.
Strategic Acquisition Overview
FalconX, an institutional digital asset prime brokerage, announced its agreement to acquire 21shares, a leading provider of cryptocurrency exchange-traded funds and products (ETFs/ETPs). This transaction marks a major milestone in FalconX's strategy to accelerate the convergence of listed markets and digital assets.
Transaction Highlights
21shares manages over $11 billion in assets across 55 listed products as of September 30, 2025, while FalconX has facilitated over $2 trillion in trading volume with 2,000+ institutional clients.
Market Impact and Vision
The acquisition brings together 21shares' expertise in asset management product development and distribution with FalconX's institutional-grade infrastructure, structuring capabilities, and risk management platform.
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.
Leadership and Growth Journey
Since its founding in 2018 by Hany Rashwan and Ophelia Snyder, 21shares has grown into a global leader in digital asset ETPs. The company's proprietary technology platform and established partner network enable rapid product launches at scale.
Continued Independence
Following completion, 21shares will remain independently managed under the FalconX umbrella. Russell Barlow will continue as CEO of 21shares, working closely with FalconX leadership to advance their shared vision for the digital assets ecosystem.
Strategic Expansion Context
This acquisition builds on FalconX's 2025 strategy to strengthen its global franchise across trading, asset management, and market infrastructure. It follows the integration of Arbelos Markets and majority stake in Monarq Asset Management, alongside expansions in Latin America, APAC, and EMEA.
No Product Changes
No changes to the construction or investment objectives of existing 21shares ETPs (Europe) or ETFs (US) are planned, ensuring continuity for current investors.