21Shares Unleashes First Leveraged SUI ETF on Nasdaq - A Bold Bet on Crypto’s Next Frontier
Nasdaq just got a new turbocharged crypto instrument. 21Shares has launched the first leveraged exchange-traded fund tracking SUI, the native token of the Sui blockchain, directly on the exchange floor.
Why This Move Matters
It's not just another ETF listing. This is a leveraged product, designed to amplify daily returns—and losses. It signals a major institutional nod to SUI, a layer-1 blockchain often touted as an 'Ethereum killer,' and throws open the doors for traditional traders to make magnified bets on its price without touching a digital wallet.
The Mechanics of the Move
The fund structures itself to deliver a multiple of SUI's daily performance. Want 2x the move? This ETF aims to provide it. It bypasses the complexities of margin trading on crypto exchanges, wrapping the leveraged exposure in the familiar, regulated wrapper of a Nasdaq-listed security. It's crypto volatility, repackaged for the mainstream portfolio.
A Provocative Step Forward
This launch accelerates the financialization of crypto assets. It caters directly to the high-conviction, high-risk appetite that defines a segment of the market, offering a tool previously confined to decentralized finance or complex derivatives desks. It’s a clear bet that demand for sophisticated, and risky, crypto exposure is only growing.
The Bottom Line
21Shares isn't just adding another product; it's testing the limits of mainstream risk tolerance. For bullish traders, it's a potent new weapon. For the cautious, it's a stark reminder that in finance, the quest for yield often dresses up reckless bets in a suit and tie—this time, with a Nasdaq ticker. The race to leverage the next big thing is officially on.
4,088 shares traded on the first day
The fund is built for short-term trading and uses derivatives to provide leveraged exposure to SUI. Unlike a regular ETF that holds the token itself, TXXS allows investors to try to make higher profits or losses based on the daily price of SUI.
On its first day, the ETF closed at $24.57 with a trading volume of 4,088 shares. Meanwhile, SUI traded around $1.64, down 1.9% over the day. Currently, the token is trading for $1.56, down 4.72% in the last 24 hours, according to data from CoinMarketCap.
Russell Barlow, CEO of 21Shares, commented on the launch, stating, “Widespread adoption of digital assets hinges on the market’s ability to offer consumers uncomplicated applications of the technology, and investors are eager to jump on products that seek to amplify those investment returns. 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 launch comes as 21Shares’ spot SUI ETF is still under SEC review, which gives U.S. investors another regulated way to engage with the Sui ecosystem. TXXS is intended mainly for investors who understand the risks of leveraged products and are prepared to manage daily changes.
Evan Cheng, CEO of Mysten Labs, the creator of Sui, said, “The arrival of a 2x leveraged SUI ETF reflects growing demand from both institutional and retail investors to engage with Sui in more dynamic ways. Seeing TXXS listed on Nasdaq is a vote of confidence in Sui’s long-term role in capital markets.”
Sui’s Expanding Ecosystem
SUI is the native token of the Sui blockchain, which supports applications in finance, gaming, AI, and other industries. The network currently has over $990 million in total value locked and continues to attract institutional investors. The launch also follows 21Shares’ recent acquisition by FalconX, a large digital asset broker. TXXS adds another regulated option for investors to gain leveraged exposure to Sui, without directly holding the token.
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