Key takeaways
- The SEC approved the first leveraged ETF Sui, introduced by 21Shares.
- This is the first US-based leveraged product offering 2x exposure to Sui, a layer 1 blockchain.
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The SEC today approved the first leveraged Sui ETF, issued by 21Shares, a leading issuer of exchange-traded crypto products, which is set to launch the fund on Nasdaq.
The Sui 2x Long ETF will trade under the ticker TXXS and provide increased exposure to the Layer 1 network. The leveraged structure uses derivatives to amplify returns via a standard ETF format, accessible through traditional brokerage accounts.
Mysten Labs co-founder and CEO Evan Cheng welcomed the decision and presented it as a sign of growing regulatory support for new crypto market structures.
Seeing TXXS listed on Nasdaq is a vote of confidence in Sui’s long-term role in the capital markets and reflects how clearer U.S. regulations can help bring new structured investment products to life, Cheng said.
This approval marks the first leveraged exposure to Sui in the United States. The SEC recently suspended evaluation of other leveraged ETF proposals while seeking to clarify the risks they pose, making this decision stand out in the current regulatory environment for leveraged crypto products.
