FalconX Acquires 21Shares to Boost Crypto Offerings

FalconX, a leading digital asset prime brokerage founded by Raghu Yarlagadda, has completed the acquisition of 21Shares, a Zurich-based firm specializing in crypto exchange traded funds (ETFs) and derivatives. This all-cash and equity deal was announced on October 22nd, 2025. The merger aims to expand offerings for institutional investors in the crypto space, potentially accelerating innovation and driving further industry consolidation.