Crypto fund issuer 21Shares has launched a new leveraged Dogecoin exchange-traded fund (ETF), coinciding with the finalization of its acquisition by institutional trading platform FalconX.
FalconX CEO Raghu Yarlagadda said the deal combines his firm’s trading and risk management platform with 21Shares’ expertise in exchange-traded products. “The combination… puts us in an even stronger position to accelerate innovation and broaden access to digital assets,” he stated. The acquisition is set to expand FalconX’s global footprint across the U.S., Europe, and the Asia-Pacific region.
Despite the change in ownership, 21Shares will continue to operate independently under the management of its CEO, Russell Barlow. FalconX itself is backed by prominent investors including American Express Ventures, Lightspeed Venture Partners, and Tiger Global Management.
The new ETF is designed to provide investors with twice the daily performance of Dogecoin, before fees and expenses. This product adds to 21Shares’ extensive portfolio, which includes crypto index funds offering exposure to Bitcoin, Solana, and Ethereum, in addition to Dogecoin. As of the end of September, the company managed over $11 billion in assets across 55 listed products.
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