Key Takeaways
- The SEC has approved the first leveraged Sui ETF, introduced by 21Shares.
- This is the first US-based leveraged product providing 2x exposure to Sui, a Layer-1 blockchain.
The SEC today approved the first leveraged Sui ETF, issued by 21Shares, a leading issuer of crypto exchange-traded products, which is set to launch the fund on Nasdaq.
The 2x long Sui ETF will trade under the ticker TXXS and offer magnified exposure to the Layer 1 network. The leveraged structure utilizes derivatives to amplify returns through a standard ETF format, which can be accessed through traditional brokerage accounts.
Mysten Labs Co-Founder and CEO Evan Cheng welcomed the decision and framed it as a sign of growing regulatory support for new crypto market structures.
The approval marks the first leveraged exposure to Sui in the United States. The SEC recently paused evaluations of other leveraged ETF proposals while it sought clarity on the risks they pose, which makes this decision stand out in the current regulatory environment for amplified crypto products.
Source: https://cryptobriefing.com/sec-approves-first-leveraged-sui-etf-by-21shares-for-nasdaq-launch/
