Yeliz Akmaca 
The 21Shares 2x leveraged SUI ETF (TXXS) officially started trading on the Nasdaq exchange following approval by the U.S. Securities and Exchange Commission (SEC). This product aims to deliver 200% of the daily return of the SUI token, making it the first leveraged SUI ETF in the market.
Features and Leverage Mechanism
TXXS provides investors with regulated and leveraged exposure to SUI. Instead of holding the underlying SUI token, the fund uses derivatives to target double the daily price movement of the token.
Russell Barlow, CEO of 21Shares, stated:
“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.”
SUI and Ecosystem Data
Sui is a decentralized cryptocurrency built on the Ethereum blockchain using a proof-of-stake consensus mechanism. Its native token is used for transaction fees, network governance, and staking. SUI has surpassed $10 billion in 30-day DEX volume and processed over $180 billion in stablecoin transfer volume for the fourth consecutive month.
21Shares and Regulatory Process
21Shares filed for a spot SUI ETF in May 2025 and announced a strategic partnership with SUI. Leveraged ETFs are typically short-term products suitable for experienced traders due to high risk.
According to ETF.com, while 2x leverage had long been seen as the ceiling under Rule 18f-4, some issuers believed there was a possible loophole in how derivatives rules were written. By structuring portfolios in certain ways, they hoped to justify using something other than the actual underlying asset for the VaR test. The SEC made it clear that this interpretation is not acceptable.
TXXS is the 74th crypto ETF launched this year and the 128th overall. Analysts expect over 80 additional ETF launches in the next 12 months. This development provides investors with regulated access to SUI and other Layer-1 projects, expanding both institutional and retail channels in the crypto market.
Leveraged ETFs can amplify gains, but they also increase potential losses. Products like TXXS operate based on daily price movements, and long-term returns may deviate from daily targets. Investors should carefully consider their risk tolerance before trading.
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