The crypto ETF market in the US continues to be vibrant when 21Shares – a Switzerland-based ETF issuer – officially launched the first leveraged ETF product tracking the price of Sui in the US market. This is a remarkable step in the context of the 2025 crypto ETF wave that has not shown any signs of cooling down, especially when the Donald Trump administration is promoting a more friendly stance towards financial innovation and blockchain technology.
21Shares’ new product is called 21Shares 2x Sui ETF (ticker TXXS) and has been approved for trading on the Nasdaq. As the name suggests, TXXS is a leveraged ETF that aims to deliver 200% daily returns on the Sui Token , targeting professional investors who want to optimize short-term market volatility.
21Shares CEO Russell Barlow said there is a growing demand from US investors for simple, accessible, and yield-enhancing crypto products. He noted that the post-2024 digital asset boom is being driven by blockchain platforms focused on simplicity and efficiency, with Sui being one of the most prominent names today.
Sui is a decentralized blockchain that operates on a proof-of- Stake consensus mechanism, allowing peer-to-peer transactions with high transparency and no intermediaries. The Sui Token is used for transaction fees, Staking, and network governance. Last month, Sui recorded over $10 billion in 30-day DEX volume , while also reaching over $180 billion in stablecoin turnover – marking the fourth consecutive month of maintaining such a huge volume. This is one of the reasons why Sui is the fastest growing blockchain by 2025.
21Shares previously filed with the SEC in May to launch a Sui spot ETF. At the same time, the company announced a “strategic partnership” with Sui to promote research, product development, and support the investor community.
However, leveraged ETFs are inherently risky because they use Derivative. They are generally only suitable for short-term trading and are not for the average investor. The US Securities and Exchange Commission (SEC) has recently blocked several 3x and 5x leveraged ETF filings, reiterating that structures that use excessive leverage do not comply with the correct interpretation of the 18f-4 Derivative risk management rule.
