FalconX Expands Global Crypto Presence With 21Shares Takeover, DOGE ETF Launch

FalconX has completed its acquisition of global crypto ETP issuer 21Shares, marking one of the most significant consolidation moves in the digital asset investment sector this year. The announcement arrived alongside the debut of a new leveraged Dogecoin ETF from 21Shares, adding fresh momentum to the firm’s growing catalogue of crypto-linked investment products.

The newly launched fund offers investors twice the daily performance of Dogecoin before fees, making it one of the most aggressive meme-asset exposures currently available in regulated markets. As Dogecoin continues to occupy a unique cultural and speculative space within the crypto world, the ETF aims to give both institutions and retail traders a structured, exchange-listed way to take on leveraged exposure without relying on offshore derivatives platforms.

FalconX CEO Raghu Yarlagadda described the acquisition as a natural fit for the company’s ambitions, noting that merging FalconX’s trading infrastructure and risk-management capabilities with 21Shares’ experience in exchange-traded products creates a powerful foundation for future growth. He said the combined strength of both firms positions them to accelerate innovation and expand investor access to digital assets globally.

For 21Shares, the acquisition comes at a moment of scale. As of late September 2025, the company managed more than $11 billion across 55 listed crypto products, offering ETFs that track Bitcoin, Ethereum, Solana, Dogecoin, and a range of thematic indexes. Despite now operating under the FalconX umbrella, the firm will continue to run independently. Its leadership team remains unchanged, with CEO Russell Barlow continuing to direct strategy and product development. Barlow emphasised that FalconX’s scale will help the firm introduce richer services to clients while preserving its crypto-native identity.

FalconX’s move to acquire 21Shares follows a series of steps aimed at deepening its footprint in institutional crypto markets. Earlier in the year, the company acquired Arbelos Markets, a derivatives-focused firm, and later invested in Monarq Asset Management to expand its suite of actively managed offerings. The integration of 21Shares strengthens FalconX’s reach across the U.S., Europe, and the Asia-Pacific region, giving it immediate access to established ETF pipelines and regulatory relationships.

The launch of the leveraged Dogecoin ETF underscores how the partnership could reshape the market for crypto-themed investment products. With demand rising for both single-asset ETFs and diversified crypto indexes, the companies expect their combined capabilities to open the door to more sophisticated, globally accessible investment vehicles. While 21Shares’ existing products will continue unchanged, the backing of FalconX provides the resources needed to scale new ideas more quickly.

Together, FalconX and 21Shares aim to position themselves at the intersection of institutional trading, regulated ETFs, and emerging digital-asset strategies, offering investors a broader range of options as crypto adoption continues to expand worldwide.