21Shares has launched the first leveraged exchange-traded fund (ETF) linked to the Sui blockchain project, making the 2x Leveraged SUI ETF (TXXS) available on the Nasdaq following approval by the U.S. Securities and Exchange Commission.
The product is reportedly the first ETF tied to the Sui network and arrives in the market as one of the few leveraged crypto-related products available to U.S. investors. Moreover, the system is designed to provide twice the daily performance of SUI while operating under U.S. securities regulations and without direct ownership of the base asset. The approval comes at a time when 21Shares is also seeking authorization for a spot SUI ETF, which is currently under review by the SEC.
SEC clearance expands regulated access to Sui
With the sign-off from the SEC, TXXS brings a mechanism for amplified SUI price tracking in a familiar ETF wrapper. 21Shares stated that the product is designed for investors seeking structured access to the market performance of Sui, without the need to worry about the custody requirements associated with holding tokens.
The launch coincides with Sui gaining an institutional spotlight, as it’s backed by its focus on throughput, horizontal scalability, and an object-centric programming model that supports a variety of use cases, including finance, gaming, and newer investment tools on-chain. These characteristics have attracted attention from asset managers and technology companies exploring the development of networks to support high-volume activity.
Executives linked to Sui and the ETF issuer cited increased demand for structured exposure to the chain. Evan Cheng, co-founder and chief executive of Mysten Labs, said the ETF’s arrival signals a broader shift in products to bring regulated products that enable market participants to participate in Sui in more formats. According to Cheng, the listing on the Nasdaq is also a signal that there are expectations that Sui can play a role in the future market infrastructure.
Leadership at 21Shares has also observed heightened interest in tools that offer higher returns. Chief executive Russell Barlow noted that the debut aligns with investors seeking differentiated exposure to digital assets through regulated channels. The firm noted the ETF expands the available toolkit for managing Sui’s market behavior as new products continue to be evaluated by regulators.
Sui network activity builds as market products expand
Sui has achieved high growth on several indicators. The network ranks as the 12th most valuable, based on the value of assets deployed, with over $990 million in assets deployed on the network. The adoption is on the rise among institutions with the help of integrations like the U.S. Treasury-backed stablecoin USDY, which is already active on the chain.
Additionally, the Sui Network has experienced a 28.2% increase in daily transactions over the past three months. The activity increase has provided more context for financial firms exploring opportunities associated with Sui’s scaling model and application ecosystem.
Claim your free seat in an exclusive crypto trading community – limited to 1,000 members.
Source: https://www.cryptopolitan.com/txxs-debuts-on-nasdaq-sec-approves-sui-etf/
