A new product under the ticker TXXS has been approved for trading on the Nasdaq exchange.
The company's CEO, Russell Barlow, stated that Sui has become one of the winners of the new Layer-1 cycle, and the launch of the ETF "brings the crypto industry closer to simple, understandable investment tools."
21Shares applied for a spot Sui-ETF back in May and announced a partnership with the Sui Foundation for joint research and product collaborations.
The SEC previously restricted the use of leverage above 2x, halting the launch of 3x and 5x ETFs. Therefore, the TXXS product is at the upper level of permitted risk and is intended for experienced investors.
Disclaimer: This article was created by the author(s) for general informational purposes and does not necessarily reflect the views of DropsTab. The author(s) may hold cryptocurrencies mentioned in this report. This post is not investment advice. Conduct your own research and consult an independent financial, tax, or legal advisor before making any investment decisions.