1:21a Now it is God who establishes both us and you in Christ.

Indeed God himself causes us (excl.) as well as you (plur.) to be secure in our relationship/position with Christ,
-or-
Now God himself gives us, along with you, a sure/firm/stable faith/place in Christ.
-or-
So then, it is God who causes us and you to firmly trust Christ.

1:21b He anointed us,

and ⌊he himself⌋ anointed us (incl.).
-or-
And he also chose/commissioned us.

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