First Sui-based ETF approved as 21Shares brings leveraged fund to market
21Shares launched the first U.S. exchange-traded product tracking Sui, the 2x SUI ETF (TXXS), on Nasdaq.Summary
Switzerland-based ETF issuer 21Shares has introduced the first U.S. exchange-traded product tracking the price of Sui, the 21Shares 2x SUI ETF (ticker TXXS), which was approved for trading on the Nasdaq exchange. This leveraged product is designed to deliver 200% of the daily return of the Sui token. 21Shares CEO Russell Barlow stated the launch capitalizes on investor eagerness for products that amplify returns. Sui is a proof-of-stake decentralized cryptocurrency whose native token is used for fees, governance, and staking. The launch follows 21Shares filing for a spot Sui ETF in May and comes as leveraged ETFs, which are high-risk short-term plays, continue to launch despite regulatory scrutiny on higher leverage ratios. This TXXS marks the 74th crypto ETF launch this year, and it follows 21Shares' recent launch of a leveraged Dogecoin ETF shortly after its acquisition by crypto trading firm FalconX.
(Source：The Block)