Grayscale Launches Trusts for Sui Infrastructure Tokens DEEP and WAL

Grayscale Investments has expanded its digital asset product suite with the launch of two new investment trusts targeting the infrastructure layer of the Sui blockchain: the Grayscale DeepBook Trust and the Grayscale Walrus Trust. These trusts, available exclusively to accredited investors, provide direct exposure to the DEEP and WAL tokens, which underpin the DeepBook and Walrus protocols, respectively. The DeepBook protocol serves as the core liquidity engine for Sui, while Walrus enables scalable and privacy-focused on-chain data storage and retrieval. This move marks Grayscale’s first foray beyond its existing SUI token trust, shifting focus from Layer 1 exposure to the foundational protocols that power the network [1].

The launch reflects a broader strategic pivot by institutional investors toward infrastructure-driven blockchain assets. Rather than focusing solely on native tokens, Grayscale is now emphasizing the protocols that address real-world scalability and performance challenges. This approach aligns with Sui’s rapid development and growing adoption, particularly in DeFi, gaming, and social platforms that rely on low-latency transactions and efficient data management [2]. The company's press release underscores its belief that these infrastructure components are key to fostering blockchain adoption at scale [3].

The market responded positively to the news, with DEEP and WAL tokens experiencing immediate price gains. DEEP surged 12% to $0.1691, and WAL rose 7% to $0.4304. At the time of the announcement, DEEP and WAL ranked 113th and 110th in market capitalization at $580 million and $609 million, respectively, according to CoinMarketCap [4]. Analysts suggest that the validation by a major institutional player like Grayscale may enhance the perceived value and utility of the Sui ecosystem’s core components [5]. This could also indirectly benefit the SUI token, which has seen increased institutional interest following the launch of regulated custody and trading services by Swiss bank Sygnum [6].

However, Grayscale has issued clear warnings about the risks associated with these new trusts. Both DEEP and WAL are relatively new protocols with unproven adoption curves and remain highly volatile. Additionally, there is no assurance that the trusts will ever be listed on secondary markets, a common challenge for Grayscale’s single-asset products [7]. Despite these uncertainties, the firm continues to position Sui as an institutional-grade platform, emphasizing its real-world applications and strong technical foundation [8].

The move is part of a growing trend in the crypto asset management space, where institutional players are increasingly seeking exposure to high-utility tokens that form the backbone of innovative blockchain ecosystems. By focusing on infrastructure, Grayscale is aiming to capture the next wave of value creation in the digital asset market [9].

Source:

[1] Grayscale targets Sui’s infrastructure layer via DEEP and WAL token trusts

https://crypto.news/grayscale-targets-suis-infrastructure-layer-via-deep-and-wal-token-trusts/

[2] SUI News: Grayscale Investment Trusts for DEEP and WAL

https://www.coindesk.com/markets/2025/08/12/grayscale-debuts-first-investment-trusts-for-sui-s-core-protocols

[3] Grayscale Debuts DeepBook, Walrus Trusts: Token Prices ...

https://www.coinspeaker.com/grayscale-debuts-deepbook-walrus-trusts-token-prices-rally/

[4] Grayscale Debuts First Investment Trusts for Sui's Core ...

https://finance.yahoo.com/news/grayscale-debuts-first-investment-trusts-130000870.html

[5] Grayscale Launches Trusts for DeepBook and Walrus ...

https://www.ainvest.com/news/grayscale-launches-trusts-deepbook-walrus-tokens-sui-blockchain-2508/

[6] SUI Price Eyes Upside as Grayscale and Sygnum Fuel ...

https://99bitcoins.com/news/presales/sui-price-eyes-upside-as-grayscale-and-sygnum-fuel-institutional-momentum/

[7] Grayscale® Launches Grayscale® DeepBook Trust and ...

https://www.morningstar.com/news/globe-newswire/9510510/grayscale-launches-grayscale-deepbook-trust-and-grayscale-walrus-trust

[8] Grayscale® Launches Grayscale® DeepBook Trust And ...

https://www.barchart.com/story/news/34076500/grayscale-launches-grayscale-deepbook-trust-and-grayscale-walrus-trust

[9] Sui Gets Institutional Boost as Grayscale Unveils New Trusts

https://www.banklesstimes.com/articles/2025/08/12/grayscale-unveils-deepbook-walrus-trusts-on-sui/