Grayscale Launches Two Trusts Connected to SUI
Grayscale has launched two single-asset trusts tied to the Sui ecosystem, following a recent increase in network activity. These investment vehicles give accredited investors exposure to the native tokens of DeepBook and Walrus, nearly a year after Grayscale introduced its first Sui-related product.
DeepBook is an onchain order book that has reportedly processed more than $10 billion in volume, while Walrus is a programmable data storage platform whose foundation raised $140 million from Standard Crypto and other backers 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.”
The Sui decentralized finance ecosystem has grown more active in the past month, with total value locked peaking at $2.3 billion on July 28 before easing to $2.2 billion. Launched in May 2023 by Mysten Labs, Sui is designed for high-throughput, low-latency transactions, supported in part by parallel transaction processing.
On July 28, Mill City Ventures became the first publicly traded company to establish a Sui treasury, raising $441 million, with 98% allocated to SUI token purchases. The company followed with another $500 million raise on August 1 for the same purpose, and its shares have risen 274% in a month, according to Google Finance.
Mysten Labs co-founder and chief product officer Adeniyi Abiodun said that through the Grayscale trusts, Mill City Ventures, and other investment channels, “institutions, their clients, and retail traders outside of traditional crypto platforms can have unprecedented exposure to the Sui ecosystem.”
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