Twenty One wins approval to begin trading on NYSE

Yesterday, the SEC approved the first ever SUI ETF. Interestingly, like what happened with the XRP ETFs, the first to be approved is a leveraged one – the 21Shares 2x SUI (TXXS). According to Bloomberg’s Eric Balchunas, this marks the 74th crypto ETF launched this year and 128th of all time.

Meanwhile, the SEC has effectively halted the launch of highly-leveraged ETFs (think 3-5x). Again, according to Bloomberg, of the 66 highly-leveraged ETFs currently under review, 40 of them have previously undergone days where the underlying stock moved 33% or more in a single trading day (re: blow up).

The CFTC has, for the first time, authorized listed spot crypto products to trade on CFTC-registered futures exchanges, with acting chair Caroline Pham calling it a new “golden age” for innovation in the U.S., pointing to recent offshore blowups to show why U.S. investors need safer, regulated venues. The exchange Bitnomial is the first out the gate, planning to launch leveraged retail spot crypto trading under CFTC oversight on Dec. 8. Read more →

Jack Mallars BTC treasury firm Twenty One Capital has received shareholder approval for it’s merger with Cantor Equity Partners (CEP). The transaction is expected to close around December 8 and will trade under the symbol XXI.

As a reminder, XXI was first announced in April and is a partnership between Tether, Bitfinex, Cantor Fitzgerald, and SoftBank. The company will launch with 43,500 BTC – currently worth approximately $4 billion – when it begins trading, following an addition of 5,800 BTC from stablecoin giant Tether. Read more →

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