The acquisition accelerates FalconX's strategic expansion of its global franchise across trading, asset management and market infrastructure
SAN MATEO, Calif., Nov. 20, 2025 /PRNewswire/ -- FalconX, a leading institutional digital asset prime brokerage, today announced the completed acquisition of 21shares – accelerating the convergence of listed markets and digital assets, while strengthening FalconX's global presence across the US, Europe, and Asia-Pacific.
"This acquisition enhances FalconX's product and structuring capabilities and reinforces our position as a global financial leader," said Raghu Yarlagadda, CEO of FalconX. "The combination of FalconX's institutional trading and risk management platform with 21shares' leadership in exchange-traded products puts us in an even stronger position to accelerate innovation and broaden access to digital assets."
"In 2018, we launched one of the world's first physically backed crypto ETPs in Europe. Since then, we have continued to pioneer product innovation, becoming the first to launch several crypto ETPs across multiple jurisdictions," said Russell Barlow, CEO of 21shares. "FalconX's scale will allow us both to deliver greater offerings and services to our clients, while building on our shared values and our crypto-native roots."
21shares will remain independently managed under the FalconX umbrella. Mr. Barlow will continue as CEO of 21shares, working closely with the leadership team at FalconX to advance a shared vision for the future of the digital assets ecosystem. No changes are planned to the construction or investment objectives of the existing 21shares ETPs (Europe) or ETFs (US).
The acquisition of 21shares caps off a landmark year for FalconX. In January 2025, FalconX acquired Arbelos Markets, a trading firm specializing in crypto derivatives, further reinforcing the firm's commitment to expanding its derivatives business and strengthening its position as one of the largest crypto derivatives dealers in the market. In June 2025, FalconX made a majority stake investment in Monarq Asset Management to strengthen its ability to serve clients seeking actively managed digital asset strategies and to further diversify its business lines.
This acquisition further advances FalconX's mission to shape the future of finance and deliver broader, more seamless access to crypto assets across global markets.
About FalconX
FalconX is a leading digital asset prime brokerage for the world's top institutions. We provide comprehensive access to global digital asset liquidity and a full range of trading services. Our 24/7 dedicated team for account, operational and trading needs enables investors to navigate markets around the clock. FalconX Bravo, Inc., a FalconX affiliate, was the first CFTC-registered swap dealer focused on cryptocurrency derivatives.
FalconX is backed by investors including Accel, Adams Street Partners, Altimeter Capital, American Express Ventures, B Capital, GIC, Lightspeed Venture Partners, Sapphire Ventures, Thoma Bravo, Tiger Global Management and Wellington Management. FalconX has offices in Silicon Valley, New York, London, Hong Kong, Bengaluru, Singapore and Valletta. For more information visit falconx.io or follow FalconX on X and LinkedIn.
"FalconX" is a marketing name for FalconX Limited and its affiliates. Availability of products and services is subject to jurisdictional limitations and FalconX entity capabilities. For more information about which legal entities offer particular products and services, please see the disclosure on our public website, incorporated herein, or reach out to your relationship contact.
About 21shares
21shares is one of the world's leading cryptocurrency exchange traded product providers and offers the largest suites of physically-backed crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21shares listed the world's first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21shares delivers innovative, transparent and cost-efficient investment solutions.
For more information, please visit www.21shares.com.
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