FalconX’s acquisition of 21Shares on Oct. 22 will add prime brokerage to the crypto investment management firm that oversees more than $11 billion across dozens of exchange-traded products (ETP).

The deal, which has an undisclosed sum, merges prime brokerage infrastructure with one of the largest crypto ETP issuers, creating a vertical integration that could reshape how Bitcoin and Ethereum funds trade and track their underlying assets.

The acquisition comes five weeks after the Securities and Exchange Commission (SEC) removed the final regulatory barriers to spot ETFs tied to assets beyond Bitcoin and Ethereum, opening pathways for Solana, Dogecoin, and other altcoin products.

FalconX, valued at $8 billion in a 2022 funding round, has processed over $2 trillion in trading volume and serves more than 2,000 institutional clients.

The firm plans to combine its brokerage platform with 21Shares’ product lineup to accelerate the adoption of digital asset investment vehicles across U.S. and international markets.

Russell Barlow, CEO of 21shares, stated:

“Our goal has been to make crypto investing available to everyone through industry-leading exchange-traded products. Now FalconX will enable us to move faster and expand our reach. Together, we’ll pioneer solutions that will meet the evolving needs of digital asset investors worldwide.”

Founded in 2018 by Hany Rashwan and Ophelia Snyder, 21Shares operates the ARK 21Shares Bitcoin ETF (ARKB) in partnership with ARK Invest and the 21Shares Ethereum ETF (TETH), which enabled staking in 2025.

The firm’s European, UK, and Swiss exchange-listed catalog spans single-asset ETPs for tokens such as Solana, Avalanche,

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Author: Gino Matos