In wake of crypto’s leverage wipeout, SEC approves ‘SUI-on-steroids’ ETF
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The SEC approved a 2x leveraged ETF tied to SUI as regulators warn that excessive leverage continues to amplify volatility across crypto markets.
The US Securities and Exchange Commission (SEC) has approved a leveraged exchange-traded fund tied to the SUI token from 21Shares, allowing investors to gain amplified exposure to the Sui ecosystem as questions persist about the risks of leverage in crypto markets.
On Thursday, the Sui Foundation announced that 21Shares has launched its 2x leveraged SUI (SUI) ETF, trading under the ticker TXXS on the Nasdaq. The fund is designed to deliver twice the daily return of SUI, giving investors a way to gain leveraged exposure without directly holding the cryptocurrency.
In practical terms, if SUI rises 10% in a single day, the ETF aims to rise by about 20%. Losses are similarly magnified on the downside.
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