21Shares lists Sui-based leveraged ETF on US Nasdaq

Source: DigitalToday
Original Title: 21Shares Launches First Sui-Based ETF in the US
Original Link:
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Swiss-based ETF issuer 21Shares is reportedly launching the first ETF in the US market that tracks the price of Sui.

The 21Shares 2x SUI ETF)TXXS( has been approved on the Nasdaq exchange and is a leveraged product that seeks to deliver 200% of the daily return of the Sui token. 21Shares CEO Russell Barlow stated, “Mass adoption of digital assets depends on providing simple applications, and investors are focusing on products that maximize returns.”

In May, 21Shares applied to the US Securities and Exchange Commission)SEC( to register a spot Sui ETF, and the company has also formed a strategic partnership with Sui, pursuing product collaborations and research report publication. Leveraged ETFs use derivatives and involve high risk, making them suitable for short-term investment.

Bloomberg’s senior ETF analyst Eric Balchunas commented, “It is unusual for a crypto-based ETF to launch as a leveraged product for the first time,” adding, “TXXS is the 74th crypto ETF this year and the 128th product launched overall.”

SUI-5.9%
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