Grayscale Launches Two Single-Asset Trusts Linked to Sui Ecosystem Protocols

Grayscale announced the launch of two single-asset trusts linked to the Sui ecosystem on Tuesday amid a recent surge in activity on the network. The two trusts are investment vehicles that provide accredited investors exposure to the native tokens of DeepBook and Walrus (WAL). This move comes almost a year after Grayscale launched its first Sui product. DeepBook is an on-chain order book that has reportedly processed over $10 billion in volume. Walrus is a platform offering programmable data storage. The Walrus Foundation raised $140 million from Standard Crypto and other investors in March 2025. "DeepBook and Walrus are the financial and active data management backbones of the Sui ecosystem, enabling developers to build fast, secure, and decentralized applications," said Grayscale head of product and research Rayhaneh Sharif-Askary. She added, "Sui’s unique blockchain architecture and programming language open the door to faster, more efficient, and more affordable blockchain experiences."

DeFi Activity Soars on the Sui Network

The Sui decentralized finance (DeFi) ecosystem has seen increased activity in the past month. The blockchain's total value locked (TVL) reached an all-time high of $2.3 billion on July 28, though it has since slightly decreased to $2.2 billion. Launched in May 2023 by Mysten Labs, Sui was designed to handle a high volume of transactions with minimal delay, leveraging parallel transaction processing to achieve high throughput and low latency. On July 28, Mill City Ventures became the first publicly traded company to create a Sui treasury, raising $441 million with 98% of the proceeds allocated to purchasing Sui tokens. The company followed this with a $500 million raise on August 1 for the same purpose. Over one month, Mill City Ventures’ shares increased by 274%, according to Google Finance. Mysten Labs co-founder and chief product officer Adeniyi Abiodun told Cointelegraph that through the Grayscale trusts, Mill City Ventures, and other investment vehicles, "institutions, their clients, and retail traders outside of traditional crypto platforms can have unprecedented exposure to the Sui ecosystem."

Frequently Asked Questions (FAQ)

Grayscale and Sui Ecosystem

Q: What are the new trusts launched by Grayscale? A: Grayscale has launched two new single-asset trusts linked to the Sui ecosystem, providing accredited investors with exposure to the native tokens of DeepBook and Walrus (WAL). Q: What is DeepBook? A: DeepBook is an on-chain order book within the Sui ecosystem that has reportedly processed over $10 billion in volume. Q: What is Walrus? A: Walrus is a platform within the Sui ecosystem that offers programmable data storage. The Walrus Foundation successfully raised $140 million from investors in March 2025. Q: Why is Grayscale launching these trusts? A: Grayscale is launching these trusts to offer accredited investors exposure to key protocols within the growing Sui ecosystem, which is characterized by its unique blockchain architecture and programming language that enables faster, more efficient, and affordable blockchain experiences.

Sui Network and DeFi Activity

Q: What is the current state of DeFi on the Sui Network? A: The Sui decentralized finance (DeFi) ecosystem has experienced significant growth, with its total value locked (TVL) reaching an all-time high of $2.3 billion on July 28th. Q: How was Sui designed? A: Sui was designed by Mysten Labs and launched in May 2023. It is engineered to handle high transaction volumes with low latency through parallel transaction processing. Q: What is the significance of Mill City Ventures' involvement with Sui? A: Mill City Ventures was the first publicly traded company to create a Sui treasury, raising substantial capital to purchase Sui tokens. This demonstrates institutional interest and adoption of the Sui ecosystem.

Crypto Market AI's Take

Grayscale's strategic move to launch single-asset trusts for DeepBook and Walrus highlights a growing trend of institutional players seeking exposure to specific, promising blockchain ecosystems. The Sui network's technological advantages, such as its parallel transaction processing, are making it an attractive platform for decentralized applications and, consequently, for investment vehicles like Grayscale's trusts. This development is indicative of the increasing maturity of the crypto market, where specialized investment products are catering to diverse investor needs and facilitating broader adoption of innovative blockchain technologies. Our platform provides insights into such market movements and the underlying technologies driving them, offering a comprehensive view of the evolving crypto landscape.

Grayscale launches two trusts linked to Sui ecosystem protocols