SUI Soars as SEC Approves First 2x Leveraged ETF on Nasdaq

Key Insights:

• SEC approval of TXXS marks Sui’s first leveraged ETF entry into regulated U.S. markets.
• Sui network records strong 28.2% transaction growth, surpassing activity trends seen on major competing chains.
• Price recovery continues as SUI holds above key support, with traders watching the $2 breakout zone.

Sui was drawing strong market attention after the SEC approved the first 2x leveraged SUI ETF, known as TXXS. The token is trading near $1.66, supported by a steady recovery over the past week. Sui gained nearly 6% in seven days as buying interest improved across spot markets. Trading volumes remain elevated, helping the asset stabilize after a prolonged decline.

SEC Clears First Leveraged Sui ETF for Nasdaq

The SEC’s approval allows the TXXS ETF from 21Shares to begin trading on Nasdaq. The product offers 2x exposure to Sui’s daily performance through derivatives. This marks the first leveraged ETF tied to the Sui network in the U.S. market. One market observer noted that “the approval gives investors regulated access to Sui through familiar brokerage accounts,” describing how the product can reach traders outside crypto exchanges.

The ETF arrives at a time when other leveraged ETF proposals are still waiting for review. The approval has raised questions around the status of pending filings, with one comment stating that “the decision may open the door to more products, but the timeline remains unclear.” The move also reflects rising interest in crypto-linked exchange-traded products within the U.S. financial system.

Sui Network Reports Strong Transaction Growth

Sui posted a 28.2% increase in daily transactions over the past three months. This placed the network ahead of Polygon, Arbitrum, and Aptos in transaction growth during the same period. The rise points to expanding activity within the Sui ecosystem as more users interact with on-chain applications.

The network’s steady growth stands out against declines recorded by Aptos and Near. Activity trends often give a sense of how frequently a blockchain is being used, and Sui’s numbers show a clear climb in engagement. The increase arrives during a broader market environment where activity levels have been mixed across competing networks.

Price Action and Technical Setup

Sui was trading near $1.66, holding above the $1.50 support area where buyers returned last week. The broader trend on the daily chart remains downward, but recent gains form a short-term recovery phase. A move above $1.80 would be needed to shift sentiment, with $2.00 acting as the next important barrier.

The RSI was near 47, showing a rebound from oversold conditions but still below the midpoint. The MACD has crossed upward, and the histogram is positive, showing early momentum, though the indicator remains below zero. These readings suggest recovery attempts are in place, but the wider trend has not yet reversed.

Sui recorded a small daily decline of 0.3%, while weekly performance remains positive. The combination of stronger network activity and the launch of the leveraged ETF continues to keep the asset in focus as traders monitor whether SUI can build toward the $2 mark.