21Shares has launched the first-ever leveraged SUI ETF, giving investors 2x daily exposure to the SUI token through the Nasdaq under the ticker TXXS.
However, while most crypto ETFs cause some bullish momentum to the underlying cryptocurrencies, the SUI price, currently at around $1.64, is down 1.9% over the last 24 hours, reflecting a slight pullback despite the market optimism.
21Shares brings SUI ETF to Nasdaq
The 21Shares 2x SUI ETF, TXXS, is the first leveraged product linked to the Sui blockchain and the first SUI ETF to hit US markets, and it follows a similar strategy to 21Shares’ leveraged Dogecoin ETF.
Approved by the SEC via a Form 8-A filing, TXXS is designed for short-term trading, offering twice the daily movement of SUI.
Unlike a spot ETF, which would hold SUI directly, this leveraged product uses derivatives to achieve amplified exposure, targeting experienced traders familiar with the risks of daily rebalancing.
According to Russell Barlow, CEO of 21Shares, the launch underscores the company’s commitment to providing investors with accessible, regulated crypto investment vehicles.
The listing also coincides with broader institutional interest in SUI, as the network’s fast transactions, developer-friendly design, and increasing stablecoin transfer volumes make it an appealing option for both retail and professional traders.
The introduction of a regulated leveraged SUI ETF provides traders with an opportunity to amplify returns without holding the token directly, marking a notable step in integrating SUI into the broader US investment landscape.
SUI price dips despite ETF launch
Despite the debut of TXXS, the SUI price has faced downward pressure, and analysts attribute the decline to a combination of profit-taking and technical rejection.
The token’s inability to stay above the $1.66 pivot point, a critical support and resistance level, has weighed on sentiment, with MACD momentum showing signs of fading and only 47% of holders in profitable positions at current prices.
In addition, short-term traders have capitalised on the ETF-induced volatility, amplifying swings and contributing to the 24-hour dip of nearly 2%.
Altcoin weakness and Bitcoin dominance also contribute to the current SUI price trend.
With Bitcoin dominance climbing to 58.64%, capital has rotated from altcoins to BTC, leaving SUI and other alternative tokens under pressure.
The Fear & Greed Index, currently at 25, indicating extreme caution, further dampens the speculative buying.
SUI price forecast
Looking ahead, technical analysis offers guidance on potential price movements for SUI.
To start with, a key level to watch is $1.31, which could serve as a foundation for a rebound toward $1.60, according to Ali Martinez.
Other analysts also note that breaking above the $1.64 resistance could open the way for further gains toward $1.97, with the next technical hurdle at $2.18.
Conversely, failure to hold $1.28 may see SUI revisit lower support levels near $0.9171.
Ali Martinez has highlighted that SUI is showing buy signals across both technical and fundamental measures, suggesting that the dip may be temporary.
$SUI is flashing buy signals across the board, fundamentally and technically.
Overall, while the launch of 21Shares’ TXXS ETF introduces a new avenue for exposure to SUI, the token’s price behaviour highlights the interplay between leverage-driven volatility, technical resistance levels, and macro-alternative cryptocurrency market dynamics, and traders should exercise caution.
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