21Shares launches leveraged Dogecoin ETF as FalconX acquisition finalizes

Crypto fund issuer 21shares launched a new, leveraged Dogecoin ETF on Thursday as FalconX's acquisition of the company was finalized.

"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," FalconX CEO Raghu Yarlagadda said in a statement.

FalconX said last month that the deal would help its expand its presence globally across the U.S., Europe, and Asia-Pacific. At the end of September, 21shares was managing over $11 billion in assets across 55 listed products.

21Shares' new DOGE-based ETF is meant to provide investors with "twice the daily performance of Dogecoin, before fees and expenses," the company said.

Among 21Shares' extensive portfolio of crypto investments, it also manages two crypto index ETFs, which give investors exposure to bitcoin, Solana, Ethereum, and Dogecoin.

Although owned and controlled by FalconX, 21shares will remain independently managed and run by CEO Russell Barlow, the companies said.

FalconX is backed by investors like American Express Ventures, Lightspeed Venture Partners, and Tiger Global Management.