FalconX Acquires ETP Provider 21shares in Major Consolidation Move

FalconX has agreed to acquire 21shares, the provider of the world's largest suite of cryptocurrency exchange-traded products (ETPs), marking one of the most significant transactions in the ETP industry in recent years. The deal combines 21shares' asset management expertise with FalconX's institutional-grade prime brokerage infrastructure, creating a powerhouse that has facilitated over $2 trillion in trading volume and manages more than $11 billion across 55 listed products.

"We're witnessing a powerful convergence between digital assets and traditional financial markets," said Raghu Yarlagadda, CEO of FalconX. "Crypto ETPs open new channels for investor participation through regulated, familiar structures." The acquisition extends FalconX's infrastructure into listed markets, a strategic MOVE to enhance market efficiency.

21shares, founded in 2018 by Hany Rashwan and Ophelia Snyder, will remain independently managed under FalconX, with CEO Russell Barlow retaining his role. No changes to its existing ETPs in Europe or ETFs in the U.S. are planned. The firm has grown from $0 to over $11 billion in assets under management, reaching millions of customers globally.