Sui enters the U.S. ETF market as 21Shares expands its crypto investment lineup with a new leveraged product.
21Shares 2x SUI ETF Debuts on Nasdaq
The first-ever Sui-based exchange-traded fund has officially entered the U.S. market. The 21Shares 2x SUI ETF, trading under the ticker TXXS, was approved on Thursday for listing on the Nasdaq exchange. This leveraged crypto ETF aims to deliver 200% of the daily return of the Sui token, giving traders amplified exposure to one of the ecosystem’s fastest-growing digital assets.
According to Bloomberg, TXXS marks the 74th crypto ETF launched this year and the 128th overall, underscoring the rapid acceleration of crypto investment products in traditional markets.
21Shares Expands Crypto ETF Offerings
Switzerland-based issuer 21Shares continues to strengthen its position in the digital asset ETF market. CEO Russell Barlow emphasized that investor demand is shifting toward simplified, high-impact crypto products.
“Widespread adoption of digital assets hinges on uncomplicated applications,” Barlow said. “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 company previously filed for a spot Sui ETF with the SEC in May and announced a strategic partnership with the Sui ecosystem to develop research, product collaborations, and educational initiatives.
Understanding Sui: A Fast-Growing Blockchain Network
Sui is a decentralized cryptocurrency operating on a proof-of-stake consensus model, enabling fast, transparent, peer-to-peer transactions without intermediaries. Its native token powers network staking, governance, and transaction fees.
Sui’s ecosystem continues to show strong momentum:
• Over $10 billion in 30-day DEX trading volume
• More than $180 billion in monthly stablecoin transfer volume, sustained for four consecutive months
These metrics highlight Sui’s growing relevance within the broader blockchain and DeFi landscape, making it a compelling candidate for institutional and retail ETF exposure.
Leveraged ETFs Come With High Risk
The launch of TXXS arrives as the U.S. regulatory environment tightens around leveraged crypto ETFs. These products are typically used by experienced traders due to their reliance on derivatives, which introduces elevated risk and short-term volatility.
The SEC recently halted potential 3x and 5x leveraged ETFs, signaling caution toward extreme leverage. As ETF.com noted, some issuers explored unconventional portfolio structures to bypass regulatory limits under Rule 18f-4. The SEC has since clarified that such interpretations are not acceptable.
Despite this environment, TXXS successfully entered the market — a rare case in which the first ETF tied to an asset is leveraged. Bloomberg senior ETF analyst Eric Balchunas remarked on the unusual debut and projected strong momentum ahead: “We expect another 80 crypto ETFs in the next 12 months.”
21Shares Continues Rapid Expansion After FalconX Acquisition
The approval of TXXS follows 21Shares’ acquisition by crypto trading firm FalconX last month. The deal, whose financial terms were undisclosed, came shortly after 21Shares launched a leveraged Dogecoin ETF, further expanding its lineup of specialized crypto investment products.
A Growing Market for Crypto Investment Products
As demand for digital asset exposure increases, ETF issuers are racing to introduce new offerings. The approval of the first Sui-based ETF signals a new phase of market diversification, giving traders more options to participate in fast-moving blockchain ecosystems through regulated financial instruments.
TXXS adds to a rapidly growing list of crypto ETFs reshaping how U.S. investors access digital assets — and with dozens more on the horizon, the momentum shows no signs of slowing.
