Grayscale Launches Trusts Tied to Sui Ecosystem Protocols

Grayscale has introduced two new investment vehicles — the Grayscale DeepBook Trust and the Grayscale Walrus Trust — to offer accredited investors exposure to foundational protocols within the Sui ecosystem. These trusts are linked to the native tokens of DeepBook and Walrus, which are key infrastructure components of the Sui blockchain [1]. The move expands Grayscale’s product offerings and marks its first direct investment in Sui’s infrastructure layer, offering an alternative to traditional SUI token exposure [2].

DeepBook is an on-chain order book that reportedly processed over $10 billion in trading volume, while Walrus is a programmable data storage platform that enhances the scalability of the Sui network [3]. The Walrus Foundation secured $140 million in funding in March 2025, signaling growing institutional confidence in the ecosystem [4]. Grayscale’s product and research lead, Rayhaneh Sharif-Askary, emphasized that DeepBook and Walrus serve as the financial and data management backbones of Sui, enabling developers to build faster, more secure, and decentralized applications [5].

The Sui ecosystem has experienced a surge in decentralized finance (DeFi) activity in recent weeks. Total value locked (TVL) on the Sui blockchain reached an all-time high of $2.3 billion on July 28, despite a slight decline to $2.2 billion shortly thereafter [6]. This growth reflects Sui’s ability to handle high transaction throughput with minimal latency, thanks to features like parallel transaction processing [7].

Grayscale’s latest product launch comes amid broader institutional engagement with the Sui network. Mill City Ventures, a publicly traded company, became the first to establish a Sui treasury, raising $441 million in July and another $500 million in August, with the majority of funds allocated to purchasing SUI tokens [8]. The company’s shares have surged by 274% within a month, according to Google Finance [9]. Mysten Labs co-founder Adeniyi Abiodun noted that the Grayscale trusts, along with other investment vehicles, are opening new pathways for institutional and retail investors to gain exposure to the Sui ecosystem [10].

The trusts are structured to meet the increasing demand for investment options that align with the evolving architecture of blockchain networks. By offering exposure to specific protocols, Grayscale aims to provide investors with a more granular understanding of the Sui ecosystem’s infrastructure and its potential for long-term growth [11]. The trusts are available exclusively to accredited investors, a group known for its risk tolerance and interest in high-growth assets [12].

The launch of these trusts is part of a broader trend in the digital asset market, where institutional players are moving beyond token-level exposure to explore deeper layers of blockchain infrastructure [13]. Grayscale’s strategy reflects this shift, potentially encouraging further innovation within the Sui network as stakeholders recognize the value assigned to core components [14]. The trusts are currently accessible through Grayscale’s platform, subject to compliance and accreditation requirements [15].

Source:

[1] Grayscale Launches Two Trusts Linked to Sui Ecosystem Protocols (https://cointelegraph.com/news/grayscale-launches-two-single-asset-trusts-linked-to-sui-ecosystem-protocols)

[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 Launches Trusts for Sui Infrastructure Tokens (https://www.ainvest.com/news/grayscale-launches-trusts-sui-infrastructure-tokens-deep-wal-2508/)

[4] Grayscale® Launches Grayscale® DeepBook Trust and (https://www.globenewswire.com/news-release/2025/08/12/3131767/0/en/Grayscale-Launches-Grayscale-DeepBook-Trust-and-Grayscale-Walrus-Trust.html)

[5] Grayscale targets Sui's infrastructure layer via DEEP and (https://crypto.news/grayscale-targets-suis-infrastructure-layer-via-deep-and-wal-token-trusts/)

[6] Grayscale Debuts DeepBook, Walrus Trusts: Token Prices (https://www.coinspeaker.com/grayscale-debuts-deepbook-walrus-trusts-token-prices-rally/)

[7] Grayscale Launches Sui-Focused Trusts as SUI Hovers (https://www.ainvest.com/news/grayscale-launches-sui-focused-trusts-sui-hovers-3-74-2508/)

[8] Grayscale Introduces New Trust Funds for Sui Ecosystem (https://www.binance.com/en/square/post/282179****1714)

[9] Grayscale® Launches Grayscale® DeepBook Trust And (https://www.barchart.com/story/news/34076500/grayscale-launches-grayscale-deepbook-trust-and-grayscale-walrus-trust)