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The U.S. Securities and Exchange Commission has approved the 21Shares 2x Sui ETF (TXXS), the first exchange-traded fund tracking the SUI token of the Sui blockchain, which is set to begin trading on Nasdaq today.
The leveraged fund seeks to deliver twice the daily performance of SUI through derivatives, offering U.S. investors regulated exposure to the high-throughput Layer 1 network. Approval came under SEC Rule 18f-4, which limits leverage to 200% after the agency paused higher-ratio proposals earlier this year.
21Shares CEO Russell Barlow described the launch as “a milestone for bringing institutional-grade products to one of the fastest-growing blockchains.” The fund arrives as Sui’s DEX volume has topped $10 billion in the past 30 days, processing an upward of $80 billion in stablecoins transfer volume for the fourth month running.
Federico Brokate, Global Head of Business Development at 21Shares, said: “Sui has attracted strong institutional interest in the U.S., especially with regulated stablecoins like the Treasury-backed USDY already live on the network. We believe Sui’s technology will drive broader crypto adoption, and this ETF gives investors a transparent, leveraged way to capture that upside.”
21Shares, the Swiss-based ETF issuer, which is the world’s first, currently offers the largest suite of cryptocurrency exchange-traded products. The firm’s proprietary technology enables it to operate with maximum efficiency both on-chain and off-chain while continuously developing innovative solutions for clients. This, it says, is the result of close collaboration across product, technology, research, capital markets, and sales teams, driving ongoing product innovation and giving investors seamless access to the fast-evolving digital asset class.
On its part, Sui is a Layer 1 blockchain (not built on Ethereum) that uses a proof-of-stake consensus mechanism and parallel transaction processing to deliver high throughput and low fees. Its native SUI token covers gas fees, network governance, and staking rewards. It has been in the news for being the frontrunner in a mini-rally among high-beta altcoins.
The SUI network has now exceeded $10 billion in 30-day DEX trading volume and handled more than $180 billion in stablecoin transfers for the fourth straight month, the project reported on Thursday.
This is the 74th crypto ETF approved in 2025 and the first dedicated to Sui, whose market cap stands at roughly $5.8 billion. SUI traded at $1.61 on December 5, down 3.9% in early trading.
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