SEC Approval of 2x Leveraged SUI ETF Marks New Expansion in U.S. Crypto Products

Nasdaq Debut Highlights Strong On-Chain Activity and Rising Institutional Demand

TL;DR

• SEC clears 21Shares to list the first 2x leveraged SUI ETF (TXXS) on Nasdaq, expanding U.S. crypto-linked products.
• The fund targets 200% of SUI’s daily price movement, carries a 1.89% fee, and is positioned for short-term, high-volatility trading.
• Sui’s ecosystem metrics frame the backdrop: $10B 30-day DEX volume, $180B monthly stablecoin transfer volume, and growing presence in the broader crypto price index landscape.

Regulatory clearance for the first 2x leveraged SUI ETF landed on December 4–5, 2025, giving 21Shares the green light to list the product under the ticker TXXS on Nasdaq. The fund is engineered to deliver approximately 200% of SUI’s daily performance before fees and expenses, offering amplified exposure to traders operating on shorter time horizons. Its management fee is set at 1.89%, underscoring the higher-risk, higher-cost profile common in leveraged instruments that rely on derivatives and frequent rebalancing. The design creates a dynamic where multi-day returns can materially diverge from what a simple 2x model might imply, making the ETF suitable only for investors accustomed to volatility and the compounding effects that often define leveraged crypto products.

The debut arrives while Sui’s on-chain footprint strengthens across multiple metrics that continue to shape its standing in the broader crypto price index ecosystem. The network reports a 30-day decentralized-exchange volume of $10 billion, placing it seventh among major blockchains, and the chain has sustained roughly $180 billion in monthly stablecoin transfer volume for four consecutive months. These figures position Sui as an infrastructure-oriented network rather than a speculative outlier, giving 21Shares a narrative foundation for introducing the ETF at a moment when analysts track both crypto price movements and coin market cap shifts as indicators of mainstream appetite.

Leadership from both Sui and 21Shares framed the approval as a signal of growing confidence in regulated crypto-linked instruments. Evan Cheng, CEO and co-founder of the Sui development team, called the Nasdaq listing “a vote of confidence in Sui’s long-term role in capital markets,” tying the event to an environment where increasing regulatory clarity allows new product structures to surface. Russell Barlow, CEO of 21Shares, emphasized the demand for simplified, transparent applications of blockchain exposure, describing TXXS as a leveraged vehicle designed to magnify performance for traders seeking tactical positioning rather than long-term accumulation.

Industry commentary surrounding the approval points to the SEC’s measured posture toward leverage, especially after prior pushback on applications involving higher multipliers such as 3x or 5x structures. Allowing a 2x SUI product suggests a willingness to expand the roster of tradable crypto ETFs while still drawing boundaries around acceptable risk. Analysts highlight the ETF’s potential upside but stress that amplified losses remain an equally significant factor, reinforcing the fund’s profile as a tool for active traders rather than passive investors.

Sui’s expanding presence in DeFi, gaming, and enterprise-grade financial services provides the market context for TXXS as it enters the Nasdaq lineup. The ETF represents a milestone linking traditional finance with a rapidly evolving Layer-1 blockchain that continues to record high throughput and sustained volume trends. For traders monitoring both the broader crypto price index and the shifting coin market cap landscape, the arrival of leveraged SUI exposure marks another step in the integration of on-chain ecosystems with regulated U.S. markets.

This article has been refined and enhanced by ChatGPT.