21Shares launches the first leveraged SUI ETF, further expanding the crypto ETF sector

[BlockBeats] The crypto ETF market has a new player. ETF issuer 21Shares has made a big move in the US market—launching the first ETF product tracking the price of SUI, and it’s a 2x leveraged long strategy.

This product, with the ticker TXXS, has already started trading on Nasdaq. Interestingly, Eric Balchunas, a veteran ETF analyst at Bloomberg, noted that launching a leveraged ETF as the very first product for a crypto asset is quite rare.

According to his statistics, TXXS is the 74th crypto ETF launched this year, bringing the total number of crypto ETFs in the market to 128. More importantly, the analyst predicts that around 80 new products will emerge in the next year. With this pace, the crypto ETF space is getting increasingly crowded.