21Shares Introduces the First 2x Leveraged SUI ETF in the U.S. Market

21Shares Launches Leveraged SUI ETF in the US Market

(Source: SuiNetwork)

Swiss ETF provider 21Shares has expanded its crypto ETF offerings. The company has officially launched the “21Shares 2x SUI ETF” (Ticker: TXXS) in the United States. Nasdaq has approved the product, and it is now available for direct trading on the exchange. It is designed to deliver twice the daily performance of the SUI token.

21Shares CEO Russell Barlow noted that investor demand has shifted from simply tracking prices to seeking financial products that offer greater flexibility and enhanced returns. He emphasized that accessible leveraged products can help attract more investors to the digital asset space.

Sui: Trading Volume and On-Chain Activity Continue to Rise

Sui is a decentralized cryptocurrency built on the Ethereum ecosystem, utilizing a Proof of Stake (PoS) Consensus Mechanism. Its native token supports transaction fee payments, governance participation, and staking. Recently, Sui has seen a steady increase in on-chain activity:

• 30-day DEX trading volume surpassed $10 billion
• Stablecoin transfer volume has exceeded $180 billion for four consecutive months

These metrics show that Sui’s user base is still expanding. This positions Sui as a strong candidate for leveraged trading products.

Partnership with Sui and Product Strategy

In May, 21Shares filed a registration statement for a spot SUI ETF with the SEC and announced a strategic partnership with the Sui team. The collaboration includes blockchain research, new product development, and educational and marketing initiatives. This partnership directly resulted in the launch of the leveraged ETF.

Explosive Growth in Crypto ETFs

According to Bloomberg ETF analyst Eric Balchunas, TXXS is the 74th crypto ETF to launch this year, bringing the total number of crypto ETFs to 128. He anticipates another 80 related products will be introduced within the next 12 months. Notably, leveraged ETFs are rarely the first product type introduced to the market, making TXXS’s debut a rare milestone in the evolution of crypto ETFs.

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Summary

21Shares has introduced the first 2x SUI ETF in the US market, highlighting the ongoing diversification of crypto financial instruments. While leveraged products remain under regulatory scrutiny due to inherent risks, Sui’s robust network activity and the rising demand for crypto ETFs have made TXXS a standout new offering. Whether leveraged products will trigger the next wave of growth in the crypto ETF sector remains to be seen.