The first Sui exchange-traded fund in America has been approved.

First Sui Exchange-Traded Fund Approved in the US Market

Swiss-based ETF issuer 21Shares has taken a significant step by introducing the first exchange-traded fund (ETF) that tracks the price of Sui in the US market. The 21Shares 2x SUI ETF has successfully obtained approval to trade on the Nasdaq stock exchange. This ETF stands out as a leveraged product designed to offer 200% of the daily returns of the Sui token.

What is Sui and How Does it Work?

Sui is a decentralized cryptocurrency built on the Ethereum blockchain. Thanks to its proof-of-stake consensus mechanism, transactions are carried out peer-to-peer. This greatly reduces the need for intermediaries while increasing transparency. The native token of Sui is used for various purposes, including transaction fees, network governance, and staking.

The Future of 21Shares and Sui

21Shares previously submitted a registration statement to the SEC for a spot Sui ETF in May 2025. Additionally, it aims to enhance its influence in the sector by establishing a "strategic partnership" to prepare product collaborations and various research reports related to Sui. Leveraged ETFs are typically preferred by experienced investors as short-term investment vehicles due to their involvement with high-risk derivatives.

Market Expectations and the Future of Crypto ETFs

Bloomberg's senior ETF analyst Eric Balchunas noted that it is quite rare for the first crypto-based ETF to be a leveraged product. The TXXS, launched in 2025, is the 74th crypto ETF to be released, earning the title of the 128th ETF overall. Balchunas stated in a post on X, “We expect 80 more ETFs in the next 12 months.”

For investors, the market for such innovative products is continuously expanding and evolving. While leveraged ETFs offer various opportunities in terms of investment strategies, they are seen as instruments that should be evaluated with caution.