Key Highlights
- 21Shares launches the first 2x leveraged SUI ETF (TXXS) on Nasdaq after SEC approval.
- The ETF gives investors double the daily price movement of SUI without owning the token.
- Sui’s rising adoption and growing institutional interest helped drive demand for this new product.
21Shares has launched the first-ever 2x Leveraged SUI ETF, trading under the ticker TXXS on Nasdaq, following approval from the U.S. Securities and Exchange Commission (SEC).
The ETF gives investors double the daily price movement of SUI without needing to hold the token directly. This makes it the first product tied to the Sui blockchain available in the U.S. market.
4,088 shares traded on the first day
The fund is built for short-term trading and uses derivatives to provide leveraged exposure to SUI. Unlike a regular ETF that holds the token itself, TXXS allows investors to try to make higher profits or losses based on the daily price of SUI.
On its first day, the ETF closed at $24.57 with a trading volume of 4,088 shares. Meanwhile, SUI traded around $1.64, down 1.9% over the day. Currently, the token is trading for $1.56, down 4.72% in the last 24 hours, according to data from CoinMarketCap.
Russell Barlow, CEO of 21Shares, commented on the launch, stating, “Widespread adoption of digital assets hinges on the market’s ability to offer consumers uncomplicated applications of the technology, and investors are eager to jump on products that seek to amplify those investment returns. With this launch, 21Shares is capitalizing on one of the winners rising to the occasion and ushering in the next era of blockchain technology – one dominated by simplicity.”
The launch comes as 21Shares’ spot SUI ETF is still under SEC review, which gives U.S. investors another regulated way to engage with the Sui ecosystem. TXXS is intended mainly for investors who understand the risks of leveraged products and are prepared to manage daily changes.
Evan Cheng, CEO of Mysten Labs, the creator of Sui, said, “The arrival of a 2x leveraged SUI ETF reflects growing demand from both institutional and retail investors to engage with Sui in more dynamic ways. Seeing TXXS listed on Nasdaq is a vote of confidence in Sui’s long-term role in capital markets.”
Sui’s Expanding Ecosystem
SUI is the native token of the Sui blockchain, which supports applications in finance, gaming, AI, and other industries. The network currently has over $990 million in total value locked and continues to attract institutional investors. The launch also follows 21Shares’ recent acquisition by FalconX, a large digital asset broker. TXXS adds another regulated option for investors to gain leveraged exposure to Sui, without directly holding the token.
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