This week brought four new staking ETPs to market:
All with staking yields. All regulated. All very Swiss.
When FalconX acquired 21Shares (which managed over $11 billion in assets) in October, the narrative was all about “accelerating the convergence of traditional finance and digital assets” and “institutional-grade infrastructure meeting ETP expertise.” Very serious. Very professional.
But here's what's actually happening: 21Shares isn't slowing down to integrate. They're not pausing for strategic reviews. They're not having lengthy all-hands meetings about “cultural alignment.”
They're launching Toncoin ETPs.
While BlackRock and Fidelity are fighting over Bitcoin and Ethereum market share (collectively managing $173 billion in spot ETF assets), 21Shares is out here productising the entire alt-L1 catalogue for European retail investors who want their blockchain exposure with:
1. Swiss regulatory approval
2. Staking yields baked in
3. Tickers they can actually pronounce
This is the financial equivalent of opening a speakeasy next door to Starbucks. Everyone knows about coffee, but what if you want a craft cocktail made from beans nobody's heard of?
The FalconX Calculus:
Russell Barlow (21Shares CEO) said the acquisition compressed their growth timeline from 5 years to 2-3 years, enabled by FalconX's $2 trillion trading volume infrastructure and 2,000+ institutional client relationships.
Translation: They're using prime brokerage muscle to move faster on weird products.
This week's launches prove it. While the U.S. waits for the SEC to approve 155 pending crypto ETP filings (including 23 Bitcoin/Solana combos and 20 XRP trackers), 21Shares is quietly building a Swiss alt-L1 supermarket.
Here's what nobody's talking about: These aren't just spot exposure products. The staking component fundamentally changes the value proposition. You're not just buying TON or SUI or NEAR exposure – you're earning the native staking yields that make these networks economically interesting in the first place.
It's the institutionalisation of “farming alt-L1s” but through SIX Swiss Exchange instead of MetaMask and a prayer.
If this is the pace two weeks post-acquisition, imagine six months from now when FalconX's infrastructure is fully integrated. The company went from $0 to $11 billion in AUM in eight years. Under FalconX's umbrella, with access to institutional trading desks, derivatives platforms, and a potential IPO on the horizon?
We're about to find out if Swiss regulatory approval can keep up with Silicon Valley product velocity.
Meanwhile, your uncle in Zurich can now professionally allocate to Telegram's blockchain while earning staking rewards through his regular brokerage account.
What a time to be alive.